-Will this new year 2021 prove to be benefical?
-A lot is coming up in 2021 with respect to banking, home, automobiles etc.
We are in the last day of 2020 and bidding farewell to this year in a way never done before. The pandemic has prohibited us from celebrating the New Year’s Eve and we are feeling bad about it as this is one eve which is looked forward to for a real break from all tensions of routine life.
The masses are praying that 2021 be good, that the pandemic should disappear and that normalcy is resumed. But when is this going to happen? Will this happen soon or is it going to be a dream? Seriously, we are actually leading reel life. What seemed a beautiful picturisation with unimaginable circumstances in Hollywood movies has actually become a part of our lives and we are living with it!! We do not know how far this will go.
However, the year 2021 is going to bring in certain changes. We may or may not like them, it might be difficult to adjust to a lot of things, but some of these changes are likely to give us better options for living; for making lives simpler to deal with.
One big change is the digital payment system which we all have become used to and are comfortable with now. The spread of the pandemic did not put an end to our basic needs; it merely showed us a way to deal with safer things and showed us how to be safe. Online banking, payment through mobile apps, online shopping has become a part of our lives since March 2020.
Reserve Bank of India announced in September that January 2021 onwards there will be a “positive pay system” for cheques. This system is for payments beyond 50,000 rupees where the cheque issuer will submit details like date, name of beneficiary, payee, and amount through SMS, mobile banking, internet banking or ATM etc. to the drawee bank.
RBI will also raise the limit of contactless cards using UPI from 2000 rupees to 5000 rupees.
Insurance companies will launch Saral Jeevan Beema policy. Under this a person will be allowed to purchase a term plan even at a low premium. This was directed by the Insurance Regulatory and Development Authority (IRDA) and various insurance companies will now introduce this policy.
FASTag is mandatory from 1st January’21. Toll plazas will not accept cash payments anywhere. Only FASTag payments will be allowed. So gear up for this mode of payment if you have not done it yet.
Another change is that while dialling a mobile number from a landline, “0” will have to be prefixed. The proposal from Telecom Regulatory Authority of India was accepted by The Department of Telecom in this respect.
Cars and electronic appliances will get costlier. A rise of 10 to 11 percent has been informed by the electronic appliance manufacturers and dealers. Prices of LPG were increased in December. Whether they will change in 2021 or not has not yet been informed; they could change, stay the same or even be reduced.
Whatsapp, the messaging app, might stop working on some of the older operating versions (older than Android 4.3 or iOS 9). Smartphones will need to be upgraded for using whatsapp.