Key modifications affecting financial institution, ATM, UPI customers, and extra – India TV
As we start February 2025, there have been some main modifications which were made, affecting day-to-day monetary transactions and companies. These new laws, that are relevant from February 1, contain varied points from ATM money withdrawal to UPI transactions, banking guidelines, cylinder fuel costs, and automotive costs. Additionally, in the present day is the day the Union Finances 2025 is being unveiled, and it’ll have some main bulletins for the lots.
Under are 5 main modifications that straight impression the widespread man:
1. ATM money withdrawals get costlier
ATM withdrawal expenses have been modified by banks with a restrict of three free withdrawals a month. Past that, a price is relevant per withdrawal. ATM withdrawals of 1’s personal financial institution shall be Rs 25 (above Rs 20), and others’ banks’ ATMs shall be Rs 30 per withdrawal. Aside from that, a restrict of Rs 50,000 has been imposed on money withdrawals day by day.
2. UPI transaction pointers modified
New pointers for UPI transactions have been launched by the Nationwide Funds Company of India (NPCI). Particular characters (corresponding to @, #, $, and many others.) are now not acceptable within the transaction ID. Alphanumeric IDs solely (a-z, 0-9) shall be acceptable. Transactions with particular characters within the ID shall be rejected.
3. Banking guidelines altered: Minimal stability, rate of interest modification
There are banking regulation modifications, i.e., hikes in rates of interest on financial savings accounts. SBI, PNB, and others have hiked rates of interest from 3 per cent to three.5 per cent, and senior residents are given an additional 0.5 per cent curiosity. Minimal stability has additionally been elevated: SBI now calls for Rs 5000 (earlier Rs 3000), PNB calls for Rs 3500 (earlier Rs 1000), and Canara Financial institution now calls for Rs 2500 (earlier Rs 1000). Account holders with a lesser stability than the minimal shall be charged penalty quantities.
4. Business fuel cylinder costs lowered
Business fuel cylinders’ costs have been decreased by Rs 7. There isn’t a discount in costs of home fuel cylinders, nevertheless. That is the second month in succession business cylinder costs have gone down. From February 1, 2025, the value of a 19 kg business LPG cylinder in Delhi has been lowered to Rs 1797.
5. Maruti Suzuki will increase automotive costs
Maruti Suzuki India (MSIL) has elevated costs on its vehicles from February 1, 2025. The worth enhance, ranging as much as Rs 32,500, is on completely different fashions, corresponding to Alto K10, Wagon R, Swift, Dzire, Brezza, Baleno, Ciaz, XL6, Fronx, Jimny, and Grand Vitara.
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