These 5 Changes, Effective From Today, Will Directly Impact Your Budget

There are a few personal finance-related changes in December that one should be aware of because they will directly affect one’s finances. Here are 5 improvements to the financial system that will be effective from December.

In a historic step, the Reserve Bank of India (RBI) will today, December 1, introduce a first pilot program for retail digital rupees (e-R). The digital rupee is also known as the Central Bank Digital Currency. It is an electronic replica of RBI banknotes. The central bank uses it as a tool to digitise money in circulation and speed up cashless transactions.

According to private sector lender Yes Bank, the subscription to SMS Balance Alert Facility will terminate as of today, December 1, 2022. Yes Bank has told its customers that it has expanded the scope of its SMS alert service, making it possible for them to get all regulatory alerts.

In order to protect you from fraud, PNB has revised the procedure for withdrawing money using the bank’s debit card. After placing the card into the reader, a one-time password (OTP) will now be sent to the registered mobile number. To withdraw money, enter this OTP. Furthermore, you still require your ATM PIN.

In November, commercial LPG was substantially less expensive (by 115 per unit). On the other hand, the price of a residential LPG cylinder has been stable since July. As a result, oil-producing companies (OMCs) might reduce the price of residential cylinders this time.

According to the calendar of bank holidays published by the Reserve Bank of India (RBI), there will be a total of 14 non-working days in December. Among them are holidays, Sundays, and the second and fourth Saturdays.

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