The new year 2024 has started. With this the new month has also started. Every time the month changes, some changes occur which have a deep impact on people’s pockets. At the same time, some such changes also take place with the passing of the year. We are going to tell you about those 5 big changes, which are related to personal finance and are going to affect your life…
Small savers benefit
The government had recently reviewed the interest rates of small savings schemes. In the review, interest on Sukanya Samriddhi Yojana and 3 year deposit scheme was increased to 0.20 percent. The new increased interest rates are for the January-March 2024 quarter. The quarter has started from today. Meaning, the benefits of these increased interest rates will start coming from today. The interest rate on Sukanya Samriddhi Yojana has now increased to 8.20 percent. The interest rate on 3 year time deposits has increased to 7.10 percent.
Will be able to get SIM without submitting documents
Customers taking new mobile connections are going to get the benefit of simplified process in the new year. After recent changes in the rules, the need to submit physical documents has been eliminated. Now KYC verification for the new SIM will be completely digital. This will prevent cases of misuse by taking SIM in someone else’s name.
Insurance documents will become easier
Insurance regulator IRDAI has asked all insurance companies to issue revised customer information sheets from January 1, 2024. Customer Information Seat i.e. CIS contains all the information related to insurance. IRDAI has asked the insurance companies to provide all the information in CIS in simple language, so that even the common customer can understand all the terms and conditions of the related insurance.
The dream of a new car becomes expensive
If you are planning to buy a new car in the new year, then this update is going to be disappointing for you. Many car companies including Maruti Suzuki, Tata Motors, Mercedes-Benz and Audi have announced to increase the prices of their various cars from the first of the year. Car companies say that due to rising costs they have to increase prices.
These UPI IDs will be closed
Currently, most of the transactions in the country are taking place through UPI. From big cities to remote villages, it has reduced people’s dependence on cash. However, with the rise of digital banking the risks of fraud have also increased. Due to this, a large number of UPI IDs are being closed from today. This action is being taken on those UPI IDs which have not been used for the last one year.
