New Banking & ATM Rules from Feb 2025: UPI, Gas, Car Prices Updated

New Banking & ATM Rules from Feb 2025: UPI, Gas, Car Prices Updated

Starting February 1, 2025, several financial and economic changes have come into effect, impacting everyday transactions. These changes include higher ATM withdrawal charges, updated UPI transaction rules, revised banking regulations, reduced commercial gas cylinder prices, and increased car prices by Maruti Suzuki. Additionally, the Union Budget 2025 is being unveiled today, bringing major announcements for the public.

From Feb 2025, ATM fees rise, UPI rules change, bank interest rates update, commercial gas prices drop, and Maruti Suzuki car prices increase. Stay updated!

Here are the five major rule changes affecting common citizens:

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ATM Withdrawals Become More Expensive

• Banks have revised ATM withdrawal charges, limiting free withdrawals to three per month.
• After this limit, fees apply:
  • ₹25 per withdrawal at ATMs of the same bank (previously ₹20).
  • ₹30 per withdrawal at ATMs of other banks.
• A daily cash withdrawal limit of ₹50,000 has been introduced.

Changes in UPI Transaction Guidelines

• The National Payments Corporation of India (NPCI) has updated UPI transaction rules.
• Special characters (@, #, $, etc.) are no longer allowed in transaction IDs.
• Only alphanumeric transaction IDs (a-z, 0-9) will be accepted.
• Transactions with special characters will be rejected.

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Banking Rule Changes: Interest Rates and Minimum Balance

• Several banks have revised interest rates and minimum balance requirements:
  • SBI, PNB, and others have increased savings account interest rates from 3% to 3.5%.
  • Senior citizens get an additional 0.5% interest.
  • New minimum balance requirements:
    • SBI: ₹5000 (previously ₹3000)
    • PNB: ₹3500 (previously ₹1000)
    • Canara Bank: ₹2500 (previously ₹1000)
  • A penalty will be charged for accounts falling below the minimum balance.

Commercial Gas Cylinder Prices Reduced

• The price of commercial LPG cylinders has been reduced by ₹7.
• No price reduction for domestic gas cylinders.
• The price of a 19 kg commercial LPG cylinder in Delhi is now ₹1797.
• This marks the second consecutive month of price cuts.

Maruti Suzuki Car Prices Increased

• Maruti Suzuki India (MSIL) has raised car prices from February 1, 2025.
• The price increase goes up to ₹32,500, depending on the model.
• Models affected include Alto K10, Wagon R, Swift, Dzire, Brezza, Baleno, Ciaz, XL6, Fronx, Jimny, and Grand Vitara.

These changes will impact financial transactions, banking, and consumer purchases, making it essential to stay informed and plan accordingly.

Disclaimer: This is not financial or investment advice. Please conduct your own due diligence or seek expert guidance for financial planning.

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