'One Vehicle, One FASTag
As of April 1, the National Highways Authority of India (NHAI) initiated the 'One Vehicle, One FASTag' campaign to deter the use of a single FASTag for multiple vehicles or linking multiple FASTags to one vehicle. This aims to enhance toll collection efficiency for smoother traffic flow at toll booths.
SBI credit card changes
SBI Card has announced alterations to its credit card policies, indicating the discontinuation of reward points accumulation on rent payments for certain cards from April 1, 2024. Affected cards include AURUM, SBI Card Elite, SBI Card Elite Advantage, SBI Card Pulse, and SimplyCLICK SBI Card. Furthermore, the cessation of reward points accrual for rent payments on specific cards will be effective by April 15, 2024.
OLA Money wallet
OLA Money has declared a complete transition to small PPI (prepaid payment instrument) wallet services, imposing a maximum monthly wallet load limit of Rs 10,000 starting from April 1, 2024. The company communicated this change to its customers via SMS on March 22, 2024. Also Read: Centre Denies Alterations To New Income Tax Regime Effective April 1, Dispels RumorsNew NPS rule
The Pension Fund Regulatory and Development Authority (PFRDA) has enhanced the security protocols of the National Pension System (NPS) by introducing a new layer of security called two-factor Aadhaar-based authentication. Starting April 1, 2024, this authentication process will be compulsory for all individuals accessing the CRA system via password-based login credentials. The PFRDA made this announcement official through a circular dated March 15, 2024.
SBI debit card
State Bank of India (SBI) has announced revisions to the annual maintenance charges for certain debit cards, with the new rates set to take effect from April 1, 2024, as indicated on the SBI website. For Classic debit cards, which include Classic, Silver, Global, and Contactless Debit Cards, the annual maintenance charge will increase to Rs. 200/- plus GST from the previous Rs. 125/- plus GST. Similarly, for debit cards such as Yuva, Gold, Combo Debit Card, and My Card (Image Card), the annual maintenance charge will rise to Rs. 250/- plus GST from the previous Rs. 175/- plus GST. These adjustments signify an increase in the annual maintenance charges for these debit cards by SBI, effective from April 1, 2024.Mandatory e-insurance
The Insurance Regulatory and Development Authority of India (IRDAI) has mandated the shift to e-insurance, commencing from April 1, 2024. This directive requires all insurance policies, including health, life, and general insurance, to be digitized and issued solely through online platforms. Additionally, individuals intending to purchase new policies must hold a Demat type e-Insurance Account starting from April 1, 2024. Furthermore, updated rules regarding surrender charges will be implemented concurrently with this transition.