These changes include bank lockers, credit cards, GST e-invoicing, high security number plates and CNG-PNG prices. All these changes are coming into force from the first date of January 2023. Let’s know.
Bank locker new rules
The new rules of bank locker issued by RBI are going to come into effect from January 1, 2023. After their implementation, banks will not be able to do anything arbitrarily with regard to lockers. Also, if there is any damage to the goods kept in the locker, then the bank will be responsible for the same. With this, if you have a locker in the bank, then you will have to sign a new agreement with the bank by December 31. For this, banks are informing customers about the change in rules through SMS and other means.
Change in credit card rules
If you use credit cards for bill payments and shopping, then this change can be of great use to you. According to media reports, the policy of reward points received on credit card payments can be changed by some banks. In such a situation, it is important for you to redeem the credit card reward points before December 31.
Important changes are also going to happen regarding GST e-invoicing or electronic bill. With effect from January 1, 2023, the limit for generating e-invoicing has been reduced from Rs 20 crore to Rs 5 crore. This means that now entrepreneurs doing business of more than five will have to generate electronic bills from the GST portal.
High security number plate
December 31, 2022 is the last date for installation of high security number plates in many states of the country. If you do not get the high security number plate installed on your vehicle before this date, you may be challaned. However, its date has been extended several times by the state governments.