Rules changing from February: Mandatory FASTag, ATM cash withdrawal limit and more
February 2021, will see a few rule changes that will impact the common man's life. Check the rules which are slated to be changed
February, 2021, will see a few rule changes that will impact the common man's life. As these rules are associated to everyone’s day to day life, you need to know about the new set of rules. As January is about to end in three days, take a look at some changes and how they are likely to impact you and your personal finances from February.
ATM cash withdrawal
Are you a customer of Punjab National Bank (PNB)? If yes, then you need to follow new rules of ATM that will start from February 1. Earlier this month, Punjab National Bank on their social media platform said, “To protect our esteemed customers from fraudulent ATM activities, PNB will be restricting transactions (financial & non-financial) from Non-EMV ATM machines from 01.02.2021. Go Digital, Stay Safe!.”
Non-EMV ATM machines are those ATMs that do not need the card during the transaction. While EVM ATMs are the ones which needs the card during transaction.
Mandatory use of FASTag
From February 15, it is mandatory for all to use FASTag for all vehicles in the country. Ministry of Road Transport & Highways has authorised fixture of FASTag with effect from January, 1, in M and N categories of motor vehicles sold before December 1, 2017.
Category ‘M’ stands for a motor vehicle (four-wheeler) used for carrying passengers while ‘N’ denotes a vehicle (four-wheeler) used for carrying goods, which may also carry persons. It is explained that this Central Motor Vehicle Rule remain in force as it is.
Meanwhile, at hybrid lanes of toll plazas on National Highways, amount can be paid through FASTag as well as in cash mode till February 15. Furthermore, in FASTag lanes of toll plazas, payment will continue to be through FASTag only.
On the first day of every month, the oil marketing companies reread the prices of LPG on the base of crude rates in the international markets.
EPFO stands for Employees' Provident Fund Organisation. The government has decided to extend the time limit for the submission of the Life Certificate (Jeevan Pramaan Patra) in respect of the pensioners drawing pension (under EPS 1995) till February 28. The same date is reserved for the ones whose Life certificate is due in any month.