From December 1, several laws will modify, varying from LPG Cylinder rates to new Real Time Gross Settlement System (RTGS) timings, matters that will have a significant effect on the lives of regular citizens. As these guidelines are going to impact your daily life, it is essential to remember more in-depth about these adjustments. Here are a few regulations that will change from 1 December onwards.
Real Time Gross Settlement System (RTGS)
In October 2020, the Reserve Bank of India declared that from December 2020, the Real Time Gross Settlement Scheme (RTGS), used for a large amount of transactions, will be made available round-the-clock. Currently, RTGS is open to users on all working days of the week from 7.00 am to 6.00 pm, except the second and fourth Saturdays of each month. RBI Governor Shaktikanta Das confirmed the bi-monthly RBI Monetary Policy announcement, saying that customers will have the Real Time Gross Settlement (RTGS) System available round-the-clock. RTGS is a method of financial transactions where fund transfers are settled continuously and in real-time, individually on a transaction-by-transaction framework. Transactions or transfers by RTGS do not have an upper amount limit.
Price of LPG cylinder
On the first day of every month, oil marketing firms adjust LPG prices based on the crude prices in the foreign markets. The OMCs are widely expected to make a declaration on the LPG Cylinder Prices change.
Rehabilitation of Railways
A section of the media had previously announced that from December the host train services will be resumed. Punjab Mail and Jhelum Express were amongst these. A preliminary proposal for the restoration of 17 mail and express trains for the Punjab region was drawn up by the Railways on November 24, while Pune Jammu-Tawi Jhelum Express services are scheduled to commence on December 1, several news media stated.