From January 1, there will be many major changes related to personal finance and banking. These include new LPG prices, new features for UPI users and new facilities for EPFO members.
With the new year, there will be many major changes related to personal finance and banking. Things that will change from January 1, 2025 include LPG prices, new facilities for UPI users and new facilities for EPFO members. It is important for you to know about these changes that will take place from January 1, 2025, because not being aware of these changes can lead to missing important deadlines, due to which you may be deprived of the benefits of some schemes.
Let’s know what changes are going to happen in the banking sector to the personal finance segment and which changes will directly impact you…
LPG price changes:
The government changes the prices of LPG cylinders at the beginning of every month and in the last few days, there has been a fluctuation in the prices of 19 kg commercial LPG cylinders. The price of 14 kg subsidized cooking gas cylinders has been stable for a long time. It is expected that there will be a change in the prices of LPG cylinders at the beginning of the new year.
ATM facility for EPFO members
Over 7 crore employees registered with EPFO may get a special gift on New Year. It is possible that the central government may issue ATM cards to withdraw money from EPFO like regular debit cards. According to a senior official of the Union Ministry of Labour and Employment, in a statement, the government is in the process of enhancing its IT systems to provide better services to the employees of the country.
UPI limit to be increased for feature phones
The Reserve Bank of India (RBI) has recently extended the UPI facility for feature phones that do not have internet connectivity. The UPI 123Pay facility enables feature phone users to make payments up to Rs 5,000 through UPI, but now this limit has been increased to Rs 10,000 and this change will be effective from January 1, 2025.
Changes in Fixed Deposits
RBI has changed the fixed deposit rules for non-banking financial companies and housing finance firms. The new FD rules will be applicable from January 2025.
Sensex, Bankex, Sensex 50 Monthly Contract Expiration Date
The expiration date of Sensex, Bankex and Sensex 50 index derivative contracts will be changed from January 1, 2025. According to the BSE announcement on November 28, the Sensex weekly contracts will expire every Tuesday from Friday from January 1, 2025.
UPI payments
can be made through wallets or other PPIs through UPI from January 1, 2025. Apart from this, Indians who want to apply for visas for countries like Thailand, America, Britain etc. should be aware of the new rules. Because a lot is going to change in this too from January 1, 2025.
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