1/6 New Rules from February 2021
Several rules that have a major impact in the lives of common man are going to change from February. These rules range from LPG Cylinder prices, PNB ATM Cash withdrawal, mandatory fastags to name a few. Since these rules are going to affect your everyday life, it is important to know more about these changes in detail. Here are the rules that are going to change from February 2021.
2/6 EPFO Jeevan Pramaan Patra
In view of the ongoing COVID-19 pandemic and the vulnerability of the elderly population to coronavirus, the Employees’ Provident Fund Organisation (EPFO) has extended the time limit up to February 28, 2021, for the submission of the Life Certificate (Jeevan Pramaan Patra) in respect of the pensioners drawing pension under EPS 1995 and whose Life certificate is due in any month till February 28, 2021.
3/6 Mandatory Fastag
Usage of FASTag will become mandatory for all vehicles in the country from February 15, 2021. Ministry of Road Transport & Highways has mandated fitment of FASTag with effect from 1st January, 2021, in M and N categories of motor vehicles sold before 1st December, 2017. Category ‘M’ stands for a motor vehicle with at least four wheels used for carrying passengers. Category ‘N’ stands for a motor vehicle with at least four wheels used for carrying goods, which may also carry persons in addition to goods. It is clarified that this Central Motor Vehicle Rule stands in force as it is.However, at hybrid lanes of fee plazas on National Highways, fee payment can be made through FASTag as well as in cash mode till 15th February, 2021. Moreover, in FASTag lanes of fee plazas, payment of fees will continue to be through FASTag only.
4/6 Punjab National Bank ATM Cash withdrawal
Customers of Punjab National Bank (PNB) will have to adhere to new ATM rules that will kick off from February 1, 2021. On January 14, Punjab National Bank had tweeted saying, “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 hold the card during the transaction. While EVM ATMs are the ones which hold the card during transaction and reads data from the chip.
5/6 LPG Cylinder Prices
Oil marketing companies revise the prices of LPG on the first day of every month depending on the crude rates in the international markets.
6/6 FM Nirmala Sitharaman’s Budget 2021 announcement
Union Budget will be presented on February 1 by Finance Minister Nirmala Sitharaman. The Budget session of Parliament will begin on January 29 with the address of President Ram Nath Kovind to the joint sitting of both the Houses. The Budget session of Parliament would conclude on April 8. The Houses will adjourn on February 15 and meet again on March 8. Like the previous session, both the Houses would sit in shifts with Rajya Sabha meeting in the forenoon and Lok Sabha in the evening between 4 pm and 9 pm as part of health measures adopted due to the coronavirus pandemic. It is expected that the Budget will have several announcements that will change the existing set-up/rules and bring into effect the newer ones.
