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Many rules change from 1 January 2021, see the complete list of these big changes related to banks, gst and businesses etc
With the change of year from January 1, 2021, there will be a change in some rules which will also be applicable across the country from the first month of the year.Check Payment System, Contactless Card Transaction, Cars Expensive Fastag Mandatory from 2021, Mutual Fund Rules change in 2021, UPI Payment, GST Return Easy Life Insurance Policy 2021
Cheque payments rule Change from January 1, 2021
In a bid to check banking fraud, the Reserve Bank of India had a couple of months ago decided to introduce the ''positive pay system'' for cheque, under which re-confirmation of key details may be needed for payments beyond Rs 50,000. This Cheque payments rule of positive pay system will come into effect from January 1 2021.
'simple life insurance' scheme will be launched.
From January 1, the insurance regulator IRDA has also issued instructions to all life insurance companies to sell a standard individual term life insurance policy. This policy is known as 'simple life insurance'.
gas cylinder price will also change.
On the first date of every month, the prices of LPG cylinders are decided by the government oil companies. During this time, the price can also be increased and the price relief can also be given. In such a situation, the price of cylinder is set to change on 2021 January 1.
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FasTeg mandatory.
After January 1, it will be mandatory to have a fastag on your vehicle to pass a four-wheeler from the National Highway Toll Plaza. If no vehicle is fitted after January 1, they will be charged double. With this you have to have a minimum balance of Rs 150 in the Fastag account.
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Many rules have changed since 1 January 2021, which will directly affect the common man.
અમારા શૈક્ષણિક માહિતી ૨૦૨૧ વોટ્સએપ ગ્રુપમાં જોડાઓ.
Rules ranging from check payment to UPI payment system and GST return are to be changed.
Check Payment System - From January 1, 2021, the rules regarding check payment will change. Through Positive Pay System, Rs. Some important information will have to be re-confirmed on payment of 50,000 or more. However, it will be up to the account holder whether he gets this facility or not. The person issuing the check may provide this information through electronic means such as SMS, mobile application, internet banking or ATM.
Contactless Card Transactions - The Reserve Bank of India (RBI) has increased the contactless card payment limit from Rs 2,000 to Rs 5,000. It will take effect on January 1, 2021. UPI payments will change - From 1 January 2021, payments by UPI will be more expensive.
Rules changed for mutual fund investments - SEBI has changed the rules for multicap mutual funds. Under the new rules, 75 per cent of the funds will now have to be invested in equities, which is currently at least 65 per cent. The structure of multi-cap funds will change as per the new rules of SEBI.