The new financial year 2025-26 in the country is going to be implemented from April 1. Apart from this, some new banking rules are being implemented in the country from April 1. This may affect the consumer’s pocket.
For example, many banks
are going to change savings account and fixed deposit (FD) interest rates. Now the interest rates will be decided based on the amount deposited in the account. Customers holding a large amount are likely to get higher interest.
Changes related to credit cards
SBI, IDFC First Bank are changing their credit card policies. SBI card reward points are going to be reduced on some transactions. SimplyClick SBI cardholders can now get 5X reward points on Swiggy. Earlier it was 10X. Air India SBI Credit Card 4 Air India SBI Platinum Credit Card will now offer 5 reward points for every Rs 100 spent on Air India ticket bookings. Currently you get 15 reward points. Similarly, Air India SBI Signature Credit Card users will get 10 points for every Rs 100 spent, up from 30 points at present.
As for IDFC First Bank credit cards, milestone rewards for Club Vistara credit card holders will be discontinued from March 31. Club Vistara Silver membership will no longer be available. Apart from this, complimentary vouchers like premium economy tickets and class upgrade vouchers will also be discontinued. The bank will waive the annual fee for one year for customers renewing their credit cards from March 31. But major travel benefits will not be available.
New rule for urban cooperative banks
From April 1, urban cooperative banks will have to allocate 60 percent of their loans to priority sectors. In addition, more women will be eligible for loans.
These UPI accounts will be closed
UPI IDs associated with mobile numbers registered with the bank that have not been active for a long time will be deactivated. You will be able to access UPI services from such numbers only after the mobile number is reactivated. As per the guidelines of the Department of Telecommunications (DoT), if your mobile number has been cancelled or surrendered, banks or UPI apps can remove it from their records. NPCI said that several technical issues and cases of fraud are increasing due to cancelled/surrendered mobile numbers.
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