As 2024 ends and 2025 begins, several new policies and regulations will come into effect, impacting households and individuals across India. Here’s a summary of the key changes:
1. LPG Cylinder Prices
- Oil marketing companies may revise prices for both domestic and commercial LPG cylinders starting January 1.
- While commercial cylinder prices have seen hikes recently, the cost of 14-kg domestic cylinders has remained stable.
- Aviation fuel prices are also likely to be updated.
2. Increased Car Prices
- Several automobile companies have announced price hikes of 1% to 3% on vehicles due to rising production costs.
- Buying a car will be more expensive from January 2025.
3. EPFO Pensioners’ Benefit
- A new rule by the Employees’ Provident Fund Organisation (EPFO) will allow pensioners to withdraw their pension from any bank without additional verification.
- By March-April 2025, pensioners might also get ATM-like withdrawal facilities.
4. UPI 123Pay Transaction Limit Increase
- UPI 123Pay, introduced by the RBI for feature phone users, will see its transaction limit increase to ₹10,000 from ₹5,000, effective January 1.
- This change aims to boost digital payments among users without smartphones.
5. Changes in Market Expiry Days
- The expiry days for Sensex and Bankex futures contracts will shift from Fridays to Tuesdays.
- Quarterly and semi-annual contracts will now expire on the last Tuesday of the period.
- For Nifty 50, NSE has fixed Thursday as the expiry day for monthly contracts.
6. Collateral-Free Loans for Farmers
- Starting January 1, farmers can avail collateral-free loans of up to ₹2 lakh, an increase from the previous ₹1.6 lakh.
- This initiative by the RBI aims to ease financial access for farmers.
7. Revised Fixed Deposit (FD) Rules
- RBI has introduced changes to rules governing FDs for NBFCs and HFCs.
- These include measures to ensure deposit security, such as maintaining liquid assets, deposit insurance, and stringent regulations for accepting public deposits.
Quick Summary of Key Changes
| Change | Details |
|---|---|
| LPG Cylinder Prices | Potential revision for domestic and commercial LPG from January 1, 2025. |
| Car Prices | Expected 1-3% increase due to higher production costs. |
| EPFO Withdrawal | Pensioners can withdraw from any bank without verification; ATM facility coming soon. |
| UPI 123Pay Limit | Transaction limit increased from ₹5,000 to ₹10,000. |
| Market Expiry Days | Weekly expiry on Tuesdays; Nifty 50 monthly expiry on Thursdays. |
| Farmer Loans | Collateral-free loans up to ₹2 lakh available. |
| FD Rules for NBFCs/HFCs | Enhanced security measures for public deposits. |
