Credit Card Rules to NPS: 5 Financial Upcoming Changes that Effect in April 2024

Beginning April, several significant financial changes will come into effect, impacting various aspects of personal finance.

Important Notes:

  • SBI Card stops giving rewards on rent payments for certain cards from April 1.
  • New rule for NPS: Need two types of checks for logging in, starts April 1.
  • YES Bank gives free access to airport lounges if you spend ₹10,000 or more per quarter starting April 1.
  • ICICI Bank gives free access to airport lounges if you spend ₹35,000 or more in the previous quarter, starting April 1.
  • OLA Money limits adding money to wallets to ₹10,000 per month from April 1.

Firstly, the National Pension System (NPS) is enhancing security by mandating two-factor Aadhaar authentication for all users accessing the CRA system, aiming to bolster transaction security.

Secondly, SBI Card is ceasing the accrual of reward points on rent payment transactions for specific credit cards like AURUM and SBI Card Elite, starting April 1, 2024.

On the other hand, YES Bank credit card holders spending Rs 10,000 or more in a calendar quarter will gain complimentary domestic lounge access from the same date.

ICICI Bank is revising its credit card benefits, offering one complimentary airport lounge access to patrons who spend Rs 35,000 or more in the preceding quarter, thereby unlocking access for the subsequent quarter.

Lastly, OLA Money is transitioning entirely to small Prepaid Payment Instrument (PPI) wallet services with a monthly limit of Rs 10,000 for adding funds to the OLA Money wallet, effective April 1.

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