New Rules for the New Year

As the calendar changes to a new year, several new rules and regulations in banking, automotive, insurance, finance, gas, and pensions are coming into effect from tomorrow. Here's a summary of the key changes that could impact daily life:

1. Car Prices Increase
   If you're planning to buy a car, you might need to spend more starting tomorrow. Prominent companies like Maruti Suzuki, Hyundai, Mahindra, and BMW are set to increase their vehicle prices by up to 3%.

2. Mandatory E-KYC for Ration Card Holders
   The government has made e-KYC mandatory for ration cardholders. The deadline for completing this process ends today. Ration cards that are not updated with e-KYC will be invalid starting tomorrow.

3. Ease for Pensioners
   Pensioners under the EPFO scheme will enjoy simplified rules. They can now withdraw their pension from any bank across the country without needing to submit additional documents. The government is also considering introducing ATM cards for employees registered under EPFO.

4. UPI Limit Increased for Feature Phones
   The RBI has revised the UPI transaction limit for feature phone users. The previous limit of Rs 5,000 has now been increased to Rs 10,000. Additionally, the RBI has introduced enhanced security measures for fixed deposits in banks.

5. Changes for US Visa Applicants
   Starting tomorrow, applicants for non-immigrant visas at US embassies in India can reschedule their appointments once without paying additional fees. For subsequent reschedules, a new application and fee will be required.

6. Farm Loans Without Collateral
   The RBI has introduced new guidelines allowing farmers to avail loans of up to Rs 2 lakh without the need for collateral.

7. RuPay Credit Card Benefits
   RuPay credit card users can now access airport lounges, subject to a minimum spend threshold.

8. Gas Prices and GST Updates
   Gas prices are expected to see changes, as they typically do at the start of a new month. Additionally, multi-factor authentication is being introduced for GST filing, enhancing security.

These updates aim to streamline processes, improve accessibility, and enhance security across sectors. Stay informed to take full advantage of these changes!