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Top five news stories to watch out for on December 31, 2019

| Updated on December 30, 2019 Published on December 31, 2019

A special session of the Kerala Assembly will be convened to ratify the Constitution (126th) Amendment Bill, which proposes to extend quota for SC/STs in the Lok Sabha and State Assemblies by another 10 years. The Bill, which has been passed by Parliament earlier this month, has to be ratified by at least 50 per cent of the State Assemblies before it is brought into force.

Whatsapp will not work on Windows mobile phones from December 31 as Whatsapp has decided to stop support for the app on the Windows Phone operating system.

Filing of ITR returns with a late fine of ₹5000 must be completed by December 31. The actual deadline ended on October 31, 2019. Returns filed between January 1 and March 31, 2020 will come with a fine of ₹10,000.

Urban Cooperative Banks(UCB)’s will now be required to submit Central Repository of Information on Large Credits (CRILC) reports on a quarterly basis from December 31. The RBI had decided to bring UCBs with assets of ₹500 crore and above under the CRILC reporting framework earlier this month.

The State Bank of India’s old debit cards based on the magnetic strip technology will be deactivated on December 31. Starting from January 1, customers will have to use an EMV chip-enabled debit card for banking operations, SBI had informed earlier this month.

Published on December 31, 2019
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