‘These’ Changes like ‘Demonetization’ are Going to Happen from February 1, if not Known Now, will Have to Face Big Losses
New Delhi : Policenama online – The second general budget of the second term of the Modi government is going to be presented on February 1. Apart from the budget, the day of February 1 is bringing some changes for the common people. These include changes related to Banking Services, LIC Policy and LPG cylinders.
What Changes will be Done…
These ATM Cards will be Discontinued
From February 1, the magnetic cards of the post office will be closed. The postal department has asked its savings account holders to replace the magnetic ATM card with a more secure new EMV chip based card by January 31 and update the mobile number. Customers’s ATM card who do not do so may be discontinued. These ATM cards can be exchanged at the post office’s home branch.
These schemes of LIC will be closed
Life Insurance Corporation of India is going to close 23 of its plans from February 1. In November last year, IRDAI had asked life insurance companies to discontinue life insurance and riders, which were not according to the new product guidelines. The last date for discontinuation of these products was 30 November 2019, which has been extended till 31 January 2020.
Among the schemes being closed by LIC includes-
LIC Single Premium Endowment Plan, LIC New Endowment Plan, LIC New Money Back-20 years, LIC New Jeevan Anand, LIC Anmol Jeevan-II, LIC Limited Premium Endowment Plan, LIC New Children’s Money Back Plan, LIC Jeevan Lakshya, LIC Jeevan Tarun, LIC Jeevan Benefit Plan, LIC Bhagyalakshmi Plan, LIC Aadhaar Stambh, LIC Aadhar Shila, LIC Jeevan Umang, LIC Jeevan Shiromani, LIC Bima Shree, LIC Micro Savings, LIC New Endowment Plus (ULIP), LIC Premium Waver Rider (Rider), LIC New Group Superannuation Cash, Accumulation Plan (Group Plan), LIC New Includes Group Gratuity Cash Accumulation Plan (Group Plan), LIC New Group Leave Encashment Plan (Group Plan) and LIC New Jeevan Mangal Plan .
LPG cylinder prices will change
On the first date of every month, new prices of LPG cylinders are released. These prices are fixed according to changes in gas prices globally. Along with cooking gas, the prices of aircraft fuel also change on the first date of the month.
Earlier on January 1, the price of non-subsidized gas cylinders rose by Rs 19. Along with cooking gas, the prices of aircraft fuel also change on the first date of the month. Currently, a non-subsidized 14.2 kg cylinder is available for Rs 714. Talking about the last five months, its price has increased by Rs 139.50.
These Items can be Expensive
In the budget presented on February 1, the government may increase the import duty on at least 50 items. If the government decides to increase import duty in the budget, then electronics, electrical goods, chemicals and handicraft items can be expensive. Lamps, wooden furniture, mobile phone chargers, industrial chemicals, candles, artificial jewelry and handicraft items can be expensive.
WhatsApp will not Support These Phones
WhatsApp will not support smartphones with Android and iOS operating systems older than yesterday. WhatsApp announced last year that WhatsApp will not run in iOS8 and earlier versions from February 1, 2020. At the same time, WhatsApp will not run even in the 2.3.7 version of Android. Because of this, users will not be able to create a new account on WhatsApp. Also, you will not be able to verify the existing WhatsApp account.