With the dawn of the new year, significant changes have unfolded, ushering in advantages for the common man.
As we step into 2024, here are five rules set to simplify your life and yield substantial benefits.
Enhanced Returns on Small Savings Schemes
The new year brings good news for savers as small savings schemes are set to offer higher interest rates.
Notably, the Sukanya Samriddhi Account Scheme witnesses a 20 basis points hike, reaching 8.20 percent for the March quarter.
Additionally, the interest on 3-year FD sees a 0.10 percent increase, now standing at 7.10 percent for the quarter commencing January 1, 2024.
Surge in Car Prices
Prepare for an adjustment in your budget as several auto giants, including Tata Motors, Audi, Maruti, and Mercedes-Benz, announce a price hike for their vehicles in January.
The surge, attributed to higher input costs, is anticipated to be around 2-3 percent, with certain models potentially facing a steeper increase.
UPI Account Deactivation
Users of popular UPI apps like Google Pay, Phone Pe, or Paytm should be aware that inactive accounts for nearly a year will be deactivated from January 1.
Stay connected and keep your accounts active to ensure seamless transactions.
Simplified Insurance Policy Documents
The Insurance Regulatory and Development Authority of India (IRDAI) mandates insurers to issue revised Customer Information Letters (CIS) for health insurance policyholders from January 1, 2024.
This initiative aims to provide policyholders with clear and comprehensible information, making insurance policies more accessible.
Revised SIM Card Verification
In a notable change, the Department of Telecommunications (DoT) mandates telecom companies to conduct physical verification before selling SIM cards to customers.
This phased approach aims to enhance security and authentication in SIM card issuance. Stay informed to comply with the revised verification processes.
