Starting from January 1, 2020, certain new rules have come into force pertaining to debit and ATM cards, PAN, NEFT online transfers, etc.

ATM cards with a magnetic stripe will no longer be operative. They are old cards and you can as well call them dead cards. New cards with an EMV chip alone will be functional. Almost all customers in India have received new cards from their banks. Those who haven't will have to apply for a new card so as to continue to use ATM services. "An EMV chip card protects the customer from his/her card being cloned," an expert says.

If you are someone who does NEFT online transfers on a regular basis, you must be aware that the transfers have been made available 24x7 since December 16. Starting from New Year's Day, all banks have waived off online NEFT charges for savings bank account holders. This is as per an RBI rule. A report says that NEFT transfers made at bank branches continue to have charges.

SBI card holders will need an OTP to withdraw any figure above Rs 10,000 between 8 pm to 8 am from the bank's ATMs. This shall not apply to non-SBI ATMs.

Income tax return (ITR) can be filed till the end of this financial year by paying a penalty of Rs 10,000 for late filing.

Those PAN cards which are not yet linked to Aadhar will continue to be operative till 31 March. Hurry up and do the linking in the meantime.