There have been many major changes in India since March 1. These changes will have a direct impact on your life. While on one hand, you will get relief from these new rules, on the other hand, if you do not take care of some things then you can also suffer financial loss. These include the price of LPG cylinders, the rules for withdrawing money from ATMs, the need for KYC in a bank account, new rules related to GST, debit and credit cards, etc. Let’s know about these important changes.
2,000 rupee notes will not be available from ATM
Keeping in mind the convenience of the customers, Indian Bank has taken a big decision. From March 1, 2020, the bank is going to make a major change related to the 2000 rupee note. Customers will not get Rs 2,000 notes at ATMs. Indian Bank has decided that it will not put Rs 2,000 notes in its ATMs. For this, the bank has also given information to all its branches.
For this, the bank issued a circular on 17 February 2020 itself. In this context, the Indian Bank has said that after withdrawing a Rs 2,000 note, customers find it difficult to exchange it at retail outlets and elsewhere.
The number of 200 rupee notes will increase
According to the bank’s circular, cassettes holding Rs 2,000 notes at Indian Bank ATMs will be disabled from 1 March 2020 onwards. That is, it will not be available. Also, the bank has said that the number of cassettes of 200 rupee notes will be further increased in ATM machines for customers.
Rs 2,000 notes to be available in the bank branch
However, Rs 2,000 notes will be available at the bank branch. That is, while withdrawing money from the bank, customers can be given Rs 2,000 notes. The bank has clearly said that customers are coming to the branch to exchange Rs 2,000 notes.
Only one bank took this step
Keep in mind that this decision has been taken by Indian Bank only. Apart from Indian Bank, no government or private bank has decided to close Rs 2,000 notes in ATMs. In this regard, V Balasubramanian, president of Financial Software and Systems, the company that manages the ATM services of the country’s banks, was quoted as saying that he had not been given any information in this regard.
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