Udayavni Special

From ”positive pay system” to change in LPG prices: Rules that are changing from 2021


Team Udayavani, Dec 27, 2020, 1:44 PM IST

2020 will soon come to an end and with the beginning of 2021  and several things are expected to change that will impact the citizens of India

Here is a list of things that are going to change from January 1 2021.

Cheque payment  system

Reserve Bank of India introduced the ”positive pay system” for cheque, under which re-confirmation of key details may be needed for payments beyond Rs 50,000. Under this new rule, you will need to re-confirm key details, like its date, payee name, account number and amountfor cheque payments beyond Rs 50,000

Add ‘0’ prefix for making calls from landlines to mobile phones

From January 15, 2021, you will have to prefix zero before making calls from fixed lines to mobiles

Whatsapp to stop working on few phones

From Jan 1, WhatsApp will stop working on certain mobile phones. The WhatsApp in its website says that it provides support forAndroid running OS 4.0.3 and newer; iPhone running iOS 9 and newer; and select phones running KaiOS 2.5.1 newer, including JioPhone and JioPhone 2.

Contactless  card transactions

The Reserve Bank of India (RBI) has said that the limits for contactless card transactions and e-mandates for recurring transactions through cards and UPI will be enhanced from Rs 2,000 to Rs 5,000 from January 1, 2021.

FASTag

The Union Ministry of Road Transport and Highways has issued a notification making a FASTag mandatory for all four-wheel vehicles from January 1, 2021.

Car Price

From January it is expected that car prices will rise across the country as several car making companies like Maruti Suzuki India and Mahindra and Mahindra are facing impacts of rising input costs.

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.

UPI Payment

Customers will have to pay additional charges on transactions from Amazon Pay, Google Pay and Phone Pay from Jan 1

GST

Businesses with up to Rs 5 crore turnover will have to file only four GST sales returns, or GSTR-3B, from January

Google Pay

In January, Google will kill the web app of its payments application — Google Pay — and add a fee for instant money transfers

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