The year 2024 has started, and there are some important changes in the rules that affect everyone. Let’s talk about them in simpler terms.
Bank Locker Agreement Deadline: If you have a locker in a bank, you needed to sign a new agreement by December 31, 2023.
If you didn’t do this by then, your locker might be frozen starting from January 1.
Closing Unused UPI IDs: If you don’t use your UPI ID for a whole year, it will be closed.
Checking your account balance during the year won’t prevent this.
Insurance Policy Information: From January 1, insurance companies must provide simple information sheets to policyholders.
These documents will explain important insurance details in easy words.
Insurance Trinity Project Launch: A new project called the Insurance Trinity Project is starting.
It aims to make insurance processes easier and extend insurance services.
The goal is to provide affordable insurance and empower women. The official launch might happen in January or later.
Income Tax Return Deadline: If you haven’t filed your income tax returns for the year 2022-23 by now, you can’t file them late anymore.
Also, if there are mistakes in your returns, you can’t correct them.
Changes in Getting a SIM Card: New rules for buying and keeping SIM cards are in place from January 1, 2024.
To prevent fraud, strict rules are applied, and a digital verification process is necessary.
Selling fake SIM cards can lead to imprisonment and heavy fines.
Aadhar Card Details Change Charges: If you want to change personal details on your Aadhar card, you now need to pay Rs 50 starting from this year.
The free change option ended on December 31, 2023.
Nomination in Demat Account Deadline: If you trade in the stock market, you must nominate a demat account by June 2024. The previous deadline was December 31, 2023.
Parcel and Car Price Changes: Sending parcels may cost more in 2024, as companies like DHL and Bluedart plan to increase prices by about 7%.
Car manufacturing companies, including Maruti, Mahindra, Kia, Hyundai, Honda, and Tata, might also increase commercial vehicle prices by 2%.
Bank Holidays in January: Banks will be closed for 16 days in January 2024, including weekly Sundays and Saturdays, except for Republic Day on January 26.
