At present, the minimum balance limit is different for different banks. If the minimum balance rules are not followed, then a fine is imposed on the bank account holders.
Many big changes are going to happen from the next financial year i.e. 1 April 2025, which will have a direct impact on your pocket. That is, it is going to affect everyone from the kitchen of the house to the bank account and credit card holders. From April 1, you may have to pay an additional charge of Rs 2 to Rs 23 for more than the prescribed ATM withdrawal. Banks have been approved by the Reserve Bank of India in this regard.
Bank customers are currently free to do five free withdrawals from the bank’s own ATM for all financial and non-financial transactions. Whereas these transactions are free from the ATM of another bank. RBI has stated in its circular that for transactions above this, a charge of Rs 2 to Rs 23 can be made by the bank. Let us know about bank accounts and credit, what changes are going to happen:
Changes on credit card
There are going to be many such changes for credit card holders in the next financial year, which can affect those who use it. On one hand, Simply Click Credit Card from ABI has announced to reduce Swiggy Reward points from 10 times to 5 times, while Air India has announced to reduce Signator Points from 30 to 10.
Effect on LPG
Oil and gas distribution companies revise the prices of LPG on the first date of every month. In such a situation, you may see some changes in it on the first date of the next month. However, there has been no increase in the prices of LPG for a long time. But it is expected that there may be some relief in LPG in the new financial year. Whereas, if we talk about the prices of CNG used in vehicles, then there may be some changes.
Changes related to bank accounts
Many other banks including State Bank of India and PNB are making changes in the minimum bank balance. Now the new limit of minimum balance will be decided on the basis of sector wise and will be charged on them. In such a situation, it will directly affect the pockets of bank account holders.
It is worth noting that the minimum balance limit of different banks is different at this time. If the rules of that minimum balance are not followed, then a fine is imposed on the bank account holders. There may be some changes in this in the future.
Many UPI accounts will be closed
UPI is very popular for payment these days. But such mobile numbers which are linked to UPI accounts but are not active, then they will be closed from April 1. Along with this, it will also be removed from the bank’s records. This means that if any of your mobile numbers is linked to UPI, but it is not being used, then it will be closed.
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