Things to change from March 1: No free FASTag; No withdrawal of Rs 2,000 note from this bank's ATM

As we step in March on Monday, here are a few things that are going to change from the third month of the year
Things to change from March 1: No free FASTag; No withdrawal of Rs 2,000 note from this bank's ATM
Representative imageImage source: Unsplash

New Delhi: Several new norms and rules will come into effect from March 1 that will affect on the everyday life of people around India.

Some of the changes such as rise in fuel prices are periodic and will change regularly. So as we step in March, here are a few things that are going to change from the third month of the year:

No free FASTag at toll plazas

From third month of 2021, one must have to provide Rs 100 to get a FASTag from toll plazas, the National Highway Authority of India (NHAI) has informed.

Fuel rates

Fuel rates are revised daily but have already crossed Rs 100-mark in multiple cities due to spike in crude oil prices. However, Union Minister Dharmendra Pradhan has said the price will decrease in India as the winter season ends.

He has said that an increase in petroleum price in international market has affected consumers too. Prices will come down a little as winter goes away. It is an international problem, price is high due to increase in demand, it happens in winter. It will decreas as the season ends.

No Rs 2000 note in ATMs of this bank

In a new development customers will not be able to withdraw notes of Rs 2,000 from Indian Bank ATMs. However, they will be able to withdraw the notes from the bank counter.

The Indian Bank said, "After withdrawing cash from ATMs customers come into the bank branches to exchange Rs 2,000 notes for smaller denomination currency notes. In order to avoid that we have decided to stop the loading of Rs 2,000 denomination notes in ATMs with immediate effect."

KYC compulsory for SBI customers

From March 1, it will be compulsory for SBI customers to get their KYC done. If not done, the accounts will not remain active.

LPG prices

On the first day of every month, Oil Marketing Companies (OMCs) renew rates of cooking gas cylinders. However, in February, the rates were revised thrice due to increase in crude oil prices.

Currently, a 14.2 Kg cylinder is priced at Rs 794 in Delhi.

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