Many important rules are changing in April
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Rule Changing in April: Now only three days are left for the month of April to start. With this the financial year 2023-24 will also end. However, many such changes are going to happen in the next month which will directly affect your pocket. Let us know about it in detail.
Credit card rules will change
The rules related to credit cards are being changed by State Bank of India, ICICI and Yes Bank. State Bank has stopped the reward points available on rent payment. Whereas, to get complimentary airport lounge access on ICICI Credit Card, you will have to spend more than Rs 35,000 in a quarter in a month. At the same time, to get free access to domestic airport lounge at the domestic airport on Yes Bank credit card, you will have to spend Rs 10,000 in a quarter.
Login to NPS account
There is going to be a change in the way of logging into the NPS account. Pension Fund Regulatory and Development Authority (PFRDA) has made changes in the security of Steam to protect the account holders from any kind of fraud. Now along with the user ID and password, OTP will also come on the mobile number linked to Aadhaar. Without this login will not be possible.
Changes in insurance surrender also
IRDA has also changed the rules for surrendering insurance. IRDA has combined six rules into a unified framework under the Insurance Products Regulation, 2024. Its objective is to enable insurance companies to respond quickly to emerging market demands, improve ease of doing business and promote insurance. IRDAI said in the statement that these rules promote better functioning in product design and pricing. This includes strengthening the rules related to guaranteed value on policy return and special return value. It also ensures that insurers adopt concrete activities for effective monitoring and due diligence.
Change in Fastag rules
There will be changes in the rules related to Fastag from April 1, 2024. The bank will work to deactivate Fastag without KYC. This means that even if there is balance in Fastag, you will not be able to make payment through it. Let us tell you that NHAI has made Fastag KYC mandatory.
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