Financial News Update: New Rule on Banking, Insurance, UPI, Credit Card From April 1
Financial News :- It may affect customers. From next April, there are going to be some changes related to your lifestyle. And which may have a direct impact on you. Big changes are going to happen in the country from April 1. Many new rules are going to be implemented in the new financial year, 2025-26 April. So today is the end of the financial year 2024-2025. So, let’s know what all will change from this Tuesday.
UPI rules
To enhance the security of the Unified Payments Interface (UPI), the National Payments Corporation of India (NPCI) will implement some new rules from next month, according to which UPI cannot be made from inactive mobile phone numbers. NPCI has asked banks, PhonePe, and Google Pay to block inactive numbers linked to UPI.
There will be changes in income tax rules-
Union Finance Minister Nirmala Sitharaman announced changes to the income tax rules while presenting the budget for the financial year 2025-26 in Parliament on February 1 this year. The new tax slabs and rates will come into effect. According to the new rules, people earning up to Rs 12 lakh per annum will not have to pay income tax, and salaried people will also get a standard reduction of Rs 75,000. So, under the new tax regime, salaried people will not have to pay tax on income up to Rs 12.75 lakh.
Credit card rules will change…
This change will be in terms of reward point structure, along with changing credit card rules for some cardholders.
There will be changes in UPS…
In August 2024, the government announced the Unified Pension Scheme (UPS). The UPS will replace the old Pension Scheme (OPS) from April 1. It will affect about 2.3 million central government employees. According to this rule, employees who have completed at least 25 years of service will get a pension of 50% of their average basic salary in the last 12 months.
GST rules to be changed
GST rules will be changed from April 1. Multi-factor authentication (MFA) will be made mandatory for taxpayers on the NIST portal. This decision has been taken for better security. Similarly, e-waybills can be generated for original documents that are not older than 180 days.
The minimum deposit amount in bank accounts will also change…
From April 1, some banks will implement new minimum deposit rules for their customers. Penalties will be levied on those who do not maintain the minimum deposit in their accounts.
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