‘One Automobile, One FASTag’ initiative
The ‘One Automobile, One FASTag’ mission by NHAI goals to forestall utilizing one FASTag for a number of automobiles or linking a number of FASTags to at least one car.It seeks to boost toll assortment effectivity and guarantee seamless mobility at toll plazas, beginning April 1, 2024.
New NPS safety rule
The Pension Fund Regulatory and Improvement Authority (PFRDA) has enhanced the safety of the Nationwide Pension System (NPS) by introducing a brand new safety layer referred to as two-factor Aadhaar-based authentication. Beginning April 1, 2024, this authentication will likely be obligatory for all password-based customers logging into the CRA system. The PFRDA introduced this variation by means of a round dated March 15, 2024.
SBI bank card updates
In keeping with ET, SBI Card has said that sure bank cards, together with AURUM, SBI Card Elite, SBI Card Elite Benefit, SBI Card Pulse, and SimplyCLICK SBI Card, will not earn reward factors on lease fee transactions, beginning April 1, 2024. Moreover, the accrual of reward factors on lease funds for these playing cards will stop fully by April 15, 2024.
ALSO READ | New NPS rule from April 1 requires two-factor Aadhaar authentication; right here’s the way it works – step-by-step information
OLA Cash Pockets transition
OLA Cash has knowledgeable its clients by way of SMS that beginning April 1, 2024, it would transition fully to small PPI (pay as you go fee instrument) pockets companies. Moreover, there will likely be a most month-to-month load restriction of Rs 10,000 on the pockets. This variation goals to streamline OLA Cash’s companies.
SBI debit card modifications
State Financial institution of India (SBI) has adjusted the annual upkeep costs for particular debit playing cards, with the brand new charges set to start from April 1, 2024, in line with particulars supplied on the SBI web site.
For traditional debit playing cards, together with Basic, Silver, World, and Contactless Debit Playing cards, the annual upkeep charge has been raised to Rs. 200/+ GST from the earlier Rs. 125/+ GST.
In the meantime, for debit playing cards comparable to Yuva, Gold, Combo Debit Card, and My Card (Picture Card), the annual upkeep cost has been elevated to Rs. 250/+ GST from the earlier Rs. 175/+ GST.
Necessary e-insurance
The Insurance coverage Regulatory and Improvement Authority of India (IRDAI) introduced that beginning April 1, 2024, all insurance coverage insurance policies, encompassing well being, life, and normal insurance coverage, have to be digitized. This mandate requires that insurance coverage insurance policies be issued solely on-line.
ALSO READ | New bank card guidelines, NPS and 4 different key money-related modifications coming in April 2024
ICICI bank card modifications
Efficient from April 1, 2024, ICICI Financial institution has launched modifications to its bank card advantages. As per the knowledge obtainable on the ICICI Financial institution web site, cardholders can now avail of 1 complimentary airport lounge entry by spending Rs 35,000 within the previous calendar quarter. This spend will unlock entry for the following calendar quarter. To qualify for complimentary lounge entry within the April-Might-June 2024 quarter, cardholders have to spend a minimal of Rs. 35,000 within the January-February-March 2024 quarter, and equally for the next quarters.
Sure Financial institution bank card modifications
Commencing April 1, 2024, YES Financial institution credit score cardholders who spend Rs 10,000 or extra in a calendar quarter will qualify for complimentary home lounge entry, as reported by numerous information retailers. This association signifies that expenditure within the previous quarter will grant entry for the following quarter, as said within the information studies.
Axis Financial institution bank card modifications
Beginning April 20, 2024, Axis Financial institution will implement modifications to its bank card rewards and advantages:
1. Reward Factors Exclusion: Expenditure on gas, insurance coverage, and gold/jewellery will not qualify for fundamental or expedited EDGE REWARD Factors, along with present class limitations.
2. Spends on Annual Charge Waiver: The edge for the annual charge waiver will now exclude spending within the insurance coverage, gold/jewellery, and gas classes.
3. Home & Worldwide Lounge Entry: The variety of complimentary visitor visits allowed on home and worldwide lounge applications will likely be decreased from 8 visits to 4 visits.