Bank locker, NPS, credit card reward points, insurance policy, mutual funds — 5 money changes in January

2023 has ushered in a bevvy of significant changes from a personal finance point of view ranging from new bank locker rules to revisions in credit card reward points norms. These changes will directly impact the lives of the common people in India. Let's take a look at them:

A new bank locker rule has come into effect according to the Reserve Bank of India (RBI) notification. Many banks have sent text messages to customers over the last few days to renew their safe deposit locker agreements. As part of this, existing locker depositors were required to furnish proof of eligibility for a renewed locker arrangement. Additionally, they were required to sign a renewal agreement by December 31, 2022.

The RBI announced revised guidelines on August 8, 2021, which became effective from January 1, 2022. And now, all the locker owners must show their eligibility for a new locker arrangement and sign a renewal agreement.