Rules Change from March 1, 2024: From Paytm Payments Bank to SBI Credit Card - these 6 rules to change from Friday | Check list

Rules Change from March 1, 2024: With the beginning of the new month - March - several new rules are set to kick in. These new rules will result in significant changes that will have an impact on everyone's pocket - from the common man to businessmen. Some of the important changes are related to Paytm Payments Bank, SBI Credit Card, FASTag KYC CNG and LPG prices, etc.

Here's a list of 6 big changes that will come into effect from March 1, 2024:

1. GST e-way bill rule

Under the new GST rule, businesses with annual turnovers surpassing Rs 5 crore will not be able to generate e-way bills without including e-invoices for all their B2B transactions.

2. FASTag KYC

The deadline for updating KYC for FASTag users has been extended till March end. Earlier, the National Highway Authority of India (NHAI) made it mandatory for FASTag users to update their KYC details. Failure to do so will result in banks declaring un-updated FASTag accounts invalid.

3. SBI Credit Card

State Bank of India (SBI) is changing the minimum day bill calculation process on its credit cards. According to the company's website, this new rule will come into effect from March 15. Users have already received information about this change through email.

4. Paytm Payments Bank

The Reserve Bank of India (RBI) has extended the deadline for Paytm Payments Bank and the operational ban on its services to March 15, 2024. Customers and merchants are advised to shift their accounts to other banks before the due date. Originally, Paytm Payments Bank was ordered to stop its services after February 29.

5. Bank Holidays in March

Banks will remain closed for a total of 14 days in March, including March 8 (Mahashivratri), March 25 (Holi), and March 29 (Good Friday). The first holiday of the month is on March 1.

6. LPG, CNG, PNG Price

The prices of LPG cylinders, CNG, and PNG are revised on the 1st of every month. Therefore, the revision in prices may also be announced on March 1.