February 2025 Rule Change:
ATM Withdrawal Charge: It is important for those who withdraw cash or use digital payments to know these new rules. These changes will motivate people towards cashless transactions, but using banking services can also be expensive.
Withdrawing money from ATM has become expensive
From 1 February 2025, new charges have been imposed on cash withdrawal from ATM. Now you can withdraw money for free only 3 times a month. After that, Rs 25 will be charged on every additional transaction, which was Rs 20 earlier.
If you withdraw cash from the ATM of any other bank, then you will have to pay Rs 30 on every transaction. Also, a maximum of Rs 50,000 can be withdrawn in a day.
LPG Cylinder became cheaper
Oil Marketing Companies have reduced the price of 19 kg LPG cylinder from Rs 4 to Rs 7. This is the second month when the price of LPG has decreased. There has been no change in the price of domestic 14 kg gas cylinder after August 1, 2024.
Change in UPI Transaction Rules
National Payments Corporation of India (NPCI) has also changed the rules of UPI transaction. From February 1, UPI IDs with special characters (like @, #, $, etc.) will not be accepted. Now UPI ID will have to be created only with alphanumeric characters. Its purpose is to make digital payments more secure.
Minimum Balance Limit also changed
Now you will have to maintain more minimum balance in savings account:
State Bank of India (SBI): Earlier it was Rs 3000, now minimum balance will have to be maintained Rs 5000.
Punjab National Bank (PNB): Minimum balance has been increased from Rs 1000 to Rs 3500.
Canara Bank: Earlier it was Rs 1000, now minimum balance required is Rs 2500
Conclusion
These new rules will impact people’s daily banking and expenses. Withdrawing money from ATM and doing banking transactions has now become a bit expensive. Along with this, new steps have also been taken to secure digital payments.
