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New rules April 2024: The new financial year will start from 1 April 2024. With the beginning of the new financial year 2024-25, many rules will change in the country. As we all know that at the beginning of every month many changes take place in the country. Similarly, many major rules are going to change from April 1, which will affect the general public.
It is very important for you to know about these changes taking place from April 1. In this report we will know which rules are changing from April 2024 and what effect they will have on you.
These new rules will be implemented including Fastag, PAN-Aadhaar, GST – These changes include rules related to Fastag, PAN-Aadhaar linking, National Pension System, GST, insurance, debit card and car price.
FASTag without KYC will be blacklisted- First of all we will talk about FASTag KYC update. The rules related to FASTag are changing from April 1, 2024. The National Highways Authority of India (NHAI) has set March 31, 2024 as the deadline to update KYC for FASTag users. If you do not update Fastag KYC by this date, your Fastag may be discontinued from next month.
NHAI announced that, under the One Vehicle One FASTag initiative, FASTags without KYC will be blacklisted or deactivated.
Penalty will be imposed for linking PAN with Aadhaar- The government has made it mandatory to link PAN card with Aadhar card. The last date for linking PAN with Aadhaar is 31 March 2024. If you do not link PAN to Aadhar card by this deadline, your PAN number will be deactivated. Also, if you link PAN with Aadhaar after April 1, you will also have to pay a fine of Rs 1,000.
Proposal for tiered surrender value in insurance policies – The new rules for those investing in insurance policies will come into effect from April 1, 2024. The Insurance Regulatory and Development Authority of India (IRDAI), in a change in the rules, has proposed time-based graded surrender value under the Insurance New Rules.
Under the new rules, if the policyholder surrenders the policy within three years, the surrender value will be the same or lower, while if the policyholder surrenders the insurance between the fourth and seventh years, the surrender value may be higher.
Process of two factor authentication started in NPS- The next news is related to pension. Pension Fund Regulatory and Development Authority (PFRDA) has taken a big step to make the National Pension System i.e. NPS more attractive. Under this, PFRDA is going to start the process of two factor authentication to access the Central Record Keeping Agency (CRA). This process will start from April 1. This means that new members and old members joining NPS will have to go through a two-factor authentication process from April 1.
Now without this no one will be allowed to log in to the NPS account. The regulatory authority said that after this new step, users will now have to adopt Aadhaar-based login authentication process.
Kia Motors cars will be expensive- If you are planning to buy a Kia Motors car in the month of April then it will be expensive for you. Because Kia India has announced to increase the prices of its vehicles in India from April 1, 2024. Under this, the company plans to increase the prices of cars of all its popular models by 3 percent. This step has been taken due to rising commodity prices and supply chain costs.
New debit card rules for SBI customers – Latest news related to State Bank of India (SBI) customers. According to the information given on the official website of SBI, the bank has announced an increase of Rs 75 in the annual maintenance fee related to some debit cards. This change will be effective from April 1, 2024.