Rule Change: With the new year, the government has changed many rules. The changes made in the year 2025 will make your life easier than before. With the beginning of the new year, changes in many financial rules have come into effect from January 1, 2025.
Rule Change: With the new year, the government has changed many rules. The changes made in the year 2025 will make your life easier than before. With the beginning of the new year, changes in many financial rules have come into effect from January 1, 2025. These include new rules for Fixed Deposit (FD), increase in transaction limit of UPI 123Pay and changes related to credit cards. These changes are important for consumers.
UPI 123Pay transaction limit increased
The National Payments Corporation of India (NPCI) has increased the transaction limit of UPI 123Pay from ₹ 5,000 to ₹ 10,000. This will benefit users using feature phones i.e. budget phones. Those who have limited access to the Internet. According to NPCI, this decision has been taken on the basis of RBI’s policy statement of 9 October 2024.
Lounge access on RuPay credit card
NPCI has issued new guidelines for RuPay credit card holders. Now free airport lounge access will be based on tier-based spending criteria.
Changes on BOBCARD
Domestic lounge access rules have been changed for BOBCARD holders. From January 1, 2025, cardholders will have to meet the minimum spending criteria in the previous quarter for free lounge access.
New rules related to FD and NBFC
The Reserve Bank of India (RBI) has changed the rules related to fixed deposits for non-banking financial companies (NBFCs) and housing finance firms. These new guidelines have come into effect from January 1, 2025.
Withdrawal of money for EPS pension made easy
Under the Employees’ Pension Scheme (EPS), pensioners can now withdraw their pension money from any bank branch. This will get rid of the hassle of transferring the Pension Payment Order (PPO). These changes will help in giving more convenience to the users. To take advantage of these changes, it is important that you know about these changes.
