New Rules from 1st April 2024: The new financial year is starting with April. Along with this, new rules and regulations are going to be implemented. There are many changes related to your money, which will come into effect from April 1, so you will get the list of each change here. These changes include many rules related to PAN-Aadhaar Linking, FASTag KYC, NPS Account, Credit Card, Debit Card. Let us know.

1. NPS Account

Pension regulator Pension Fund Regulatory and Development Authority (PFRDA) has added a new step on login for the security of NPS accounts. Now two-factor Aadhaar based authentication will be mandatory for subscribers to access the CRA system and for password based users. After the implementation of this new security protocol, NPS Subscribers can now login to their account by simply authenticating their account with Aadhaar and entering the OTP received on their registered mobile number.

2. IRDAI Policy Surrender Value

New rules on policy surrender are also coming for insurance customers from April 1. Now under the new rules, the policy surrender value will be decided by the policy surrender period. That means, the longer the policy surrender period, the higher the surrender value. The surrender value is reduced if the policy is surrendered within three years.

3. E-Insurance

Another rule of IRDAI is coming into effect from April 1. From this day onwards it will be necessary for every policy to have a digitized format. That is, after opening the policy, the e-insurance account of the policyholder will be opened. This will make it easier for customers to manage and operate their policies.

4. FASTag KYC

According to the instructions so far, such Fastag accounts and devices will be declared invalid from April 1, 2024, if the KYC details will not be updated. Fastag KYC is mandatory from April 1, failing which the bank will deactivate the account.

5. SBI Credit Card

SBI Card has changed the rules of reward points on some of its cards. If users make rent payment through some cards including AURUM, SBI Card Elite, SBI Card Elite Advantage, SBI Card Pulse and SimplyCLICK SBI Card, then they will not get reward points on it from April 1.

6. YES Bank Credit Card

Yes Bank customers who spend Rs 10,000 on the card in a calendar quarter will be eligible for complimentary domestic lounge access from April 1.

7. ICICI Bank Credit Card

ICICI Bank has also increased the benefits on lounge access. Users can get a complimentary airport lounge access by spending Rs 35,000 in the previous calendar quarter. Spending in the previous calendar quarter will unlock access for the next calendar quarter. To be eligible for complimentary airport lounge access in the April-May-June 2024 quarter, you will have to spend a minimum of Rs 35,000 in the January-February-March 2024 quarter and so on for the remaining quarters.

8. Ola Money Wallet

Ola Money is switching to Small PPI i.e. Small Prepaid Payment Instrument Wallet. With this, from April 1, you will be able to deposit only Rs 10,000 per month in the wallet.

9. PAN-Aadhaar Link

According to the information available so far, the last date for linking PAN with Aadhaar is March 31. If any PAN cardholder does not link his PAN with Aadhaar, his PAN will become inactive.

The post New Rules from 1st April, 2024: From credit card to NPS and FASTag, get ready for these 9 changes first appeared on Rightsofemployees.com.

Rules Changing from 1st April : The month of March is about to end. The month of April is going to start in two days. With the beginning of April, the financial year 2024-25 will also begin. There are going to be changes in some rules related to money from April 1, which will have a direct impact on your pocket. Let us know which rules will change from April 1.

Charges on SBI Debit Card will increase from April 1.

SBI has shocked crores of its customers. The annual maintenance charge of some debit cards of SBI has been increased. These rates will be revised from April 1, 2024. The bank has increased the maintenance charges on most of its debit cards. Please note that bank card charges vary depending on the type of card.

Change in NPS rules:

Pension Fund Regulatory and Development Authority (PFRDA) is going to introduce Aadhaar-based login authentication in NPS. This rule will come into effect from April 1, 2024.

LPG prices can change.

LPG prices are fixed by the government at the beginning of every month. Government oil companies can change the price of LPG cylinders as well as commercial cylinders. However, the possibility of change in the prices of LPG cylinders during the election season is very less.

Ola Money Wallet

Ola Money has told its customers that the company will shift from ‘Full Know Your Customer Wallet’ (KYC) to ‘Small Prepaid Instrument’ (PPI) wallet from April 1, 2024. This will save the time and expense of customers in the KYC process. The company has said, “We are shifting to the Small PPI system for a maximum wallet load limit of Rs 10,000 from April 1, 2024.”

Banks will remain closed for 14 days in April.

Reserve Bank of India has released the list of bank holidays in the month of April. Like every month, there are going to be bank holidays for many days in April too. Banks are going to remain closed in many states due to festivals like Eid and Ram Navami etc.

Banks will remain closed for a total of 14 days in different states in April. You can check the list of bank holidays by visiting the official website of the Reserve Bank.

SSY, PPF account holders should complete this work by 31st March, otherwise there will be big loss.

The post New Rules: From NPS to debit card, these 5 rules will change from April 1, your pocket will be affected. first appeared on Rightsofemployees.com.