Every month, some new rules are introduced or some financial changes are made. It is important for us to understand these properly.
Changes from February 1, 2021: The first month of the new year almost over and February is just round the corner. Every month, some new rules are introduced or some financial changes are made. It is important for us to understand these properly and keep them in our minds:
1. Union Budget 2021
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On February 1, Finance Minister Nirmala Sitharaman will present the Union Budget. Budgetary announcements affect every person. The salaried class expects tax exemptions, while businesses look forwward to reliefs. The Budget has something for every one.
2. Cylinder prices likely to change on Feb 1
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Cooking gas cylinder prices might change on February 1. LPG prices had gone up twice in December last year. In January this year, companies did not raise prices. Now, in February, oil companies are likely to raise the price of cylinders. On the 1st of every month, oil companies fix prices of LPG cylinders and commercial cylinders.
3. ATM withdrawal
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If you are an account holder with the Punjab National Bank (PNB), you will not be able to withdraw money from non-EMV ATM machines from February 1. This has been done to curb ATM frauds.
A non-EMV ATM are those ATMs which do not hold the card during the transaction. In non-EVM ATMs, customers' data is generally read by a magnetic strip.
4. Franklin Templeton Supreme Court verdict on February 1
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The Supreme Court will decide on February 1 the procedure for disbursal of funds of the six schemes, which were wound up by Franklin Templeton Mutual Fund on April 23, after hearing the objections raised by some unitholders on the recent e-voting process conducted to seek their consent.
5. Air India to launch several domestic, international flights
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Air India and its low cost subsidiary Air India Express have announced new domestic and international flights. Air India Express will launch a daily flight between Trichy and Singapore from February to March 27, 2021. There will be more connections in the route such as Kuwait to Vijayawada, Hyderabad, Mangalore, Trichy, Kozhikode, Coonoor and Kochi. Air India Express has already announced several flights, which have already started in January.
6. PMC Bank to offer by February 1
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The administrator for Punjab & Maharashtra Co-operative (PMC) Bank has set February 1 as the deadline for prospective investors to submit final offers for the reconstruction of the bank. The due diligence process is currently being carried out by three interested parties.
