Ahead of the budget, 5 major changes in rules announced from today, you need to know

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Rule Change in February 2024: The rule changes on the first day of every month. Which directly affects the pocket of common people. Starting today, the month of February will see many changes. Budget is presented on February 1 every year for financial planning of the country. Union Finance Minister Nirmala Sitharaman will present the budget today. Along with this, changes in 5 financial rules will also be seen. In which there have been changes like increase in price of LPG, giving one month more time to do FASTag eKYC. Let's see this change...

1. Increase in price of LPG

LPG cylinder prices are updated by oil marketing companies on the 1st of every month. In such a situation, the price of LPG cylinder has been increased by Rs 14 in 19 kg commercial gas cylinder on the budget day. The price of which has been increased from Rs 1755.50 to Rs 1769.50.

2. IMPS Money Transfer

Nowadays there is no need to go to the bank to transfer money from one bank account to another. In which money can be transferred online within seconds. IMPS is also a good option for transferring money. Now from February 1, 2024, users can transfer money by simply adding the receiver's mobile number and bank account name. According to the National Payments Corporation of India (NPCI), after this rule, the IFSC code will not be required to transfer money.

3. Withdrawal of NPS

The Pension Fund Regulatory and Development Authority (PFRDA) has issued a circular in January. In this, 25 percent of the amount can no longer be withdrawn under the National Pension System (NPS). Apart from this, PFRDA has directed that now customers can make partial withdrawal only for purchase of house or construction. This rule will be applicable from 1 February 2024 i.e. from today.

4. FASTag eKYC

The National Highways Authority of India (NHAI) said that all FASTags without KYC will be deactivated after January 31. But a report said that out of 1.27 crore, only 7 lakh FASTags have been closed. Therefore, this deadline has been extended by one more month. According to NHAI, people are being encouraged to complete KYC of Fasteg as per RBI guidelines.

5. Sovereign Gold Bond (SGB)

The Reserve Bank of India will issue the last tranche of sovereign gold bonds for the financial year 2023-24 in February. The series will open on 12th February and close on 16th February. The last series opened on 18 December 2023. The price of gold in this series was fixed at Rs 6,199 per gram.


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