The new year has come will a ton of changes in budgetary exchanges. All ATM cards with a magstripe or magnetic stripe will stop to work from January 1. You can get it supplanted with another EMV chip plastic from your bank liberated from cost. As indicated by rules given by the Reserve Bank of India (RBI), the total of what banks have been approached to change over old cards into the new EMV-based cards.

EMV cards accompany a little microchip that secures purchasers against false exchanges. It makes dynamic information each time you make an exchange which makes it outlandish for cloning the card.

NEFT prices change

The Reserve Bank of India (RBI) has made NEFT online exchanges a 24×7 procedure with an effect from December 16. Also, presently from January 1, banks have been told to postpone online NEFT prices for reserve funds ledger holders.

No more RuPay, UPI prices

Merchant Discount Rate (MDR) prices won’t be pertinent on exchanges through RuPay and UPI stages from 2020.

OTP for SBI Withdrawal

If you have a State Bank of India (SBI) ATM card, you may require an OTP (once time password) to withdraw money. With effect from January 1, SBI has presented OTP-based ATM withdrawal for exchanges above ₹10,000 between 8 pm to 8 am. This is just when you are withdrawing cash from SBI ATM.

Income tax return (ITR) filing

If you had missed the August 31 time for ITR, at that point you can do as such before the finish of this financial year. Be that as it may, for all delayed ITRs recorded from January 1, a punishment of ₹10,000 will be forced.

PAN card

If your PAN card isn’t yet linked to Aadhaar, at that point it won’t be announced out of commission or not being used from January 1 as the annual duty division has stretched out the 31 December cutoff time to 31 March. This is the second time that the government os broadening this cutoff time.