Significant Changes in 2025
As we step into the year 2025, numerous significant changes are affecting the everyday lives of people. These changes are shaping various aspects of daily transactions, including how we buy and sell vehicles, the rules surrounding pensions, the financial well-being of farmers, and even regulations regarding foreign travel. With these updates, it’s evident that individuals from all walks of life will experience a direct influence on their routines. Let’s explore five major changes that have come into effect this year and see how they will impact us.
UPI Limit Increased for Feature Phone Users
Starting January 1, 2025, users who rely on feature phones for UPI transactions will find it much more convenient to conduct their financial activities. The transaction limit through UPI 123Pay has been increased to Rs 10,000, doubling the previous limit of Rs 5,000. This change, initiated by the National Payments Corporation of India in October 2024, is particularly beneficial for those with limited internet access and those who still use basic mobile phones. This adjustment will enhance the ability of many individuals to manage their finances effectively, making UPI transactions more accessible to a broader audience.
Changed Rules for Pension Holders
For pensioners under the Employees’ Pension Scheme, new rules have taken effect as of January 2025, allowing them to withdraw their pensions from any bank ATM without needing extra verification. This development follows the government’s approval of the Centralized Pension Payment System (CPPS) in September 2024, aimed at streamlining the pension withdrawal process. With CPPS, pensioners won’t have to visit offices for changes related to their location or bank details, which is a significant relief for those who relocate after retirement. This change is set to benefit around 78 lakh pensioners, simplifying their lives considerably.
