The Reserve Bank of India has also prepared guidelines for mutilated notes. Mutilated notes can be exchanged from any bank anywhere in the country. For this it is not necessary that you go to the home branch only. If you bank branch refuses to change the note, then action can be taken against that bank. However, it is also important to keep in mind that the worse the condition of the note, the lesser will be its value.

Know what are the important rules related to changing notes?

1. Notes of small value-

Small notes like torn notes of 5,10,20,50 whose at least fifty percent part is safe, you will get these notes in return.

2. High denomination notes-

If the number of torn notes is more than 20, and the value of other notes is more than 5000 rupees, then you will have to pay a fee for this.

3. Security Sign-

It is an essential rule to change the note that the security sign such as serial number, Gandhiji’s watermark, governor’s signature etc. are visible, then the bank cannot refuse to exchange such note.

4. Write to RBI-

If the notes you have are too torn, in many pieces, then you will have to send these notes to the RBI branch by post. Where it is necessary to give information like account number, IFSC code, how much the note is worth etc.

What happens to torn notes?

RBI removes these notes from use, it is also the responsibility of Reserve Bank of India to print new notes instead of these notes. These notes are recycled by grinding them into small pieces, which are later used to make other paper items.

The post RBI issued new Guidelines…! New update on mutilated notes, RBI gave these orders to the banks first appeared on Rightsofemployees.com.

In the midst of rising inflation, the price of commercial gas cylinders has been cut by Rs 115.50 from November 1 by the oil companies. However, there has been no change in the price of domestic LPG cylinders. There has been no change in the price of domestic cylinders since July 6.

Apart from this, oil companies have increased the price of Aviation Turbine Fuel (ATF). Due to this move of government companies, the price of air tickets may increase in the coming time. The price released by Indian Oil Corporation (IOCL) on Tuesday morning was increased by Rs 4842.37 and in Delhi the price increased to Rs 120,362.64 per kiloliter.

The big change that will happen from November 1 is that you will need a One Time Password (OTP) for home delivery of gas cylinders. After booking the cylinder, OTP will be sent to the registered mobile number of the customers. The cylinder will be delivered only after telling this.

IRDA has also made a big change from today. From November 1, it has become necessary for insurers to provide KYC details. At present, it is up to you to give KYC while buying a non-life insurance policy.

From November itself, tax payers with a turnover of less than 5 crores will be required to enter the 5-digit HSN code in the GST return. Till now 2 digit HSN code was entered. Earlier, from April 1, 2022, a four-digit code was made mandatory for tax payers with a turnover of more than 5 crores. After this, it was made mandatory to enter the six-digit code from August 1, 2022.

There has been a change in the rules related to electricity subsidy in Delhi from November 1. Under this, people who do not register for electricity subsidy will not get its benefit. The last date for registration for subsidy was 31 October 2022. However, it is also expected to be extended further.

Indian Railways has changed the timetable of all trains from 1st November. Due to being in the timetable, there will be a change in the timing of trains. In such a situation, it is important that you check the complete list before leaving the house.

The post New Rules from November 1: From railways to electricity, these 7 important rules have changed from today, otherwise there will be loss first appeared on Rightsofemployees.com.