News of your use: These four important changes will take place from April 1, read the full news
The new financial year i.e. 2024-25 is starting from Monday. Four major financial changes are taking place from April 1. These include mutual funds, ETFs, NPS, insurance, and Fastag KYC. All these changes can affect you.
NPS: New Login Rules
The Pension Fund Regulatory and Development Authority will introduce an advanced security system for National Pension System (NPS) accounts on April 1. For this, all password-based subscribers accessing the central record-keeping agency of NPS will have to undergo two-time verification. Without this, you cannot log in to your account.
Fastag stopped if KYC is not available
The last date to update KYC for Fastag customers is March 31. If you do not update KYC by this date, it will stop from April 1st. National Highway Authority of India has initiated One Vehicle One Fastag. Under this, Fastags without KYC will be blacklisted.
Digitization of insurance policy
IRDA has made the digitization of insurance policies mandatory. According to this, all policies including life, health, and general insurance will be issued in electronic form. This will work like demat accounts for buying shares. Without this, no policy will be issued.
Ban on investment in foreign ETFs
Capital markets regulator SEBI has directed mutual fund houses to stop investing in schemes investing in foreign exchange-traded funds (ETFs) from April 1. The fund industry has invested over the limit of Rs 8,311 crore till March 21, 2024.
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