The new year will begin in a few days, and it will bring about a lot of changes. Numerous rules about bank lockers, credit cards, and mobile devices will change. Along with this, the cost of gas cylinders and automobiles may also go up. All of these developments will immediately impact your pocket. Let's find the changes that will take effect on January 1, 2023.

 

1. These vehicles will become expensive.

Vehicle prices will rise starting the new year. From January 1, 2023, vehicle prices will also increase Maruti Suzuki, Tata Motors, Hyundai Motor, Mercedes-Benz, Audi, Renault, Kia India, and MG Motor.

 

2. Bank locker rules will be changed.

In addition, starting on January 1, the Reserve Bank will distribute a contract to every locker holder, which they must sign. Banks will evaluate whether their locker agreement has unfair conditions or terms to the new RBI regulations.

 

3. Credit card rules will change. 

In addition, there will be a modification in the laws related to credit cards. HDFC is going to change the refund point and fees. In addition, SBI has chosen to modify the rules of some cards.

 

4. Gas cylinder prices will change.

In addition, gas cylinder prices are evaluated on the first of every month. Every month on the first, government oil firms raises or lower the gas cylinders price.

 

5. GST rules will change.

The GST regulations will also change as of January 1. Entrepreneurs will need to produce e-invoices if their annual revenue exceeds 5 crores.

 

6. Mobile rules will change.

In addition, starting on January 1, every phone's IMEI number must be registered by both the maker of the phone and the entity that imports and exports the phone.