Money Changes in Feb 2024: In a few days, January will come to an end, and February will officially start. There are numerous regulations that will change in the upcoming month that will directly affect average people’s finances. There will be a lot of changes starting next month, including the NPS to SBI Special Home Loan Campaign and the Sovereign Gold Bond Scheme. We are informing you of these regulations.
NPS Account Withdrawal Rules Modified
Significant modifications have been made to the guidelines for NPS account withdrawals by PFRDA. As per the notification released on January 12, 2024, NPS account holders would now have the ability to withdraw a maximum of 25% of the entire amount deposited. In addition, the account must be older than three years to qualify for this withdrawal.
IMPS Regulations Modification from February 1, 2024
Effective February 1st, there will be a modification to the IMPS regulations. It is now possible to send money up to Rs 5 lakh without naming a beneficiary. On October 31, NPCI released a circular about this. Following a change in regulations, you can now transfer money between accounts up to Rs 5 lakh by simply inputting the account holder’s mobile number and account number.
NHAI Mandates KYC, Deadline January 31, 2024
Through an amendment to Fastag’s regulations, NHAI has made KYC mandatory. Vehicles whose Fastag KYC is not finished will be deactivated. Under such circumstances, you have until January 31st to finish this assignment.
RBI’s Exclusive Offer
For those who are interested in investing in Sovereign Gold Bonds, the Reserve Bank of India has a fantastic offer. The dates for investing in SGB 2023-24 Series IV are February 12–16, 2024.
Exclusive Home Loan Offer from State Bank of India (SBI)
Customers of State Bank of India can take advantage of a unique home loan marketing. Customers who qualify for this are eligible for a special 65 basis point home loan discount. Customers also benefit from a savings on processing fees in addition to this. Customers have until January 31, 2024, to take advantage of this exclusive price.
Punjab and Sindh Bank’s Exclusive FD Scheme
The 444-day “Dhan Lakshmi 444 Days” unique FD scheme has been introduced by Punjab and Sindh Bank for its clientele. You can benefit from a 7.60 percent interest rate on your deposited funds by investing in this scheme. This scheme has a deadline of January 31, 2024.
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