Rules also changed in New year, Understand these new rules related to bank locker to credit card, Details here

New rules related to bank locker, insurance policy, credit card and NPS partial withdrawal etc. have come into effect from January 1, 2023.

new Delhi. The whole world has entered the New Year 2023 with new hope and enthusiasm. Many rules have changed on the new year. These also include some rules related to personal finance which have come into force from today and will affect every person. These include rules related to bank locker, insurance policy, credit card and NPS etc.

The new rules related to these schemes and facilities have come into effect from 1 January 2023. Let us know about those important changes which are related to your personal investments and will definitely affect you. Also Read: EPFO subscribers: Important news! Fraud can also happen with your PF account, keep these things in mind to avoid it

Changed rule of NPS partial withdrawal
Pension Fund Regulatory and Development Authority has issued a new order regarding NPS withdrawal for account holders contributing to the National Pension Scheme. Under this, customers of government sector i.e. Center, State and Central Autonomous Body can now submit their application for partial withdrawal (NPS Partial Withdrawal New Rules) . It has to be submitted to the nodal officer only.

KYC process mandatory
to buy insurance From January 1, customers will have to compulsorily provide KYC documents to buy insurance policies. The Insurance Regulatory and Development Authority of India (IRDAI) has made KYC norms mandatory for the purchase of all types of life, general and health insurance. Also Read: KVS Recruitment 2022: Direct vacancy in Kendriya Vidyalaya , will get job without examination, Salary up to 2 lakh rupees per month

Know these rules related to bank locker
From January 1, RBI has changed the bank locker rules, now customers will get more benefits in case of loss. For this, an updated locker agreement will have to be made. Under this new rule of RBI, if there is a lot of damage to the goods kept in the locker, now the responsibility of the bank will be fixed for this. If the loss to the customer is due to fraud perpetrated by the employees of the bank, the liability of the bank will be up to 100 times the annual rent of the locker.

Credit card rules also changed
From January 2023, many banks are likely to change their reward point scheme for credit card payments. So you have to redeem the credit card reward points by 31st December.

Rules related to high security registration plate
As per the rules of the Motor Vehicles Act, HSRP and colour-coded stickers are mandatory for all vehicles. Heavy fine ranging from Rs 5,000 to Rs 10,000 can be imposed on any vehicle for not following this rule. At the same time, the cost of high-security number plate for two wheeler vehicles has been fixed at Rs 365 and for four wheeler vehicles from Rs 600 to Rs 1,100. Also Read: Senior Citizens New FD Rates: Opportunity to earn up to 8% with tax savings on Fixed Deposits, Details here