New Rules from 1 May: Many big changes are going to be implemented from the first day of next month (1 May 2025),which will directly affect the pocket of the common man and daily services. These include new rules related to bank accounts, ATM transactions, and more. After these changes, common people will have to follow new arrangements for their transactions and services.
If you have not paid attention to these changes till now, then it is time to be alert. It is important to stay updated about the new rules coming into effect from May 1 to avoid any inconvenience. Let’s find out what is going to change:
Withdrawing Money from an ATM Will Become Expensive
Under the new rules of the Reserve Bank of India (RBI),from May 1, 2025, additional charges may apply for withdrawing, depositing, or checking cash at ATMS if the free transaction limit is exceeded.
- The fee for cash withdrawal will increase from ₹17 to ₹19 per transaction.
- The fee for a balance check will rise from ₹6 to ₹7 per transaction.
Big Changes in Railway Ticket Booking
Railways will also implement new ticket booking rules from May 1. Travellers will need to prepare according to the new system:
- Waiting tickets will no longer be valid in Sleeper and AC coaches.
- Waiting ticket holders can now travel only in the general coaches.
- The reservation period has been reduced from 120 days to 60 days.
- Railways may also increase three major charges, which could make fares and the refund process more expensive.
Change in Gas Cylinder Prices Possible
As per the monthly price review system, LPG cylinder prices may change on May 1.
There could be an increase or decrease in prices, directly impacting the household budget of the common man.
Possible Changes in FD and Savings Account Rules
Important changes related to Fixed Deposits (FD) and Savings Accounts may come into effect from May 1, 2025.
- There is a possibility of revision in FD and Savings Account interest rates.
- No official announcement has been made by banks yet regarding the new rates.
- Under RBI guidelines, ATM withdrawal fees are also expected to increase.
In such a situation, bank customers are advised to stay informed about the new rules and interest rates before May 1 to avoid inconvenience.