New Rule: Starting April 1, 2025, numerous regulations in India will undergo significant changes, impacting banking, taxation, digital privacy, and various other sectors. These modifications are likely to have a substantial effect on ordinary citizens, businesses, and governmental operations. Key changes will include adjustments to the prices of LPG, CNG-PNG, ATM transaction fees, minimum balance requirements, debit card services, and new tax regulations.

Revised Pricing for LPG, CNG-PNG, and ATF

On the first day of each month, oil companies will assess the prices of LPG, CNG-PNG, and ATF. From April 1, 2025, these prices may either rise or fall, contingent upon the decisions made by the government and the oil companies.

Implementation of Positive Pay System to Combat Banking Fraud

In an effort to mitigate banking fraud, several banks will adopt the Positive Pay System. For cheque transactions exceeding Rs 5,000, customers will be required to confirm the cheque number, date, beneficiary’s name, and amount. This initiative aims to reduce the occurrence of fraudulent activities in banking.

Revised ATM Withdrawal Regulations

Beginning April 1, many banks will introduce new rules regarding ATM transactions. Customers will be permitted three free withdrawals per month from ATMs of other banks. Starting May 1, an additional charge of Rs 2 will apply for each transaction beyond this limit. If the free withdrawal threshold is surpassed, a fee of Rs 23 per transaction will be imposed instead of the previous Rs 21.

Enhanced Features for RuPay Debit Cards

The National Payments Corporation of India (NPCI) is set to introduce several new features for RuPay debit cards. These enhancements will include services related to airport lounge access, insurance coverage, travel, fitness, and wellness, effective from April 1, 2025.

Revisions to Minimum Balance Requirements

Several banks, including SBI and PNB, are modifying their minimum balance requirements. Under the new guidelines, the minimum balance threshold will be determined based on the customer’s location, whether it be a village, town, or city. Different fees may apply for failing to maintain the required minimum balance.