Starting January 1, 2025, here are some major changes to new rules related to PF, banking, UPI payments, deposits, prices, and taxes taking effect this month
For UPI Lite users, the new transaction limit is Rs 1,000 (raised from Rs 500) by the RBI
For UPI 123Pay users, RBI raised the transaction limit to Rs 10,000 (from Rs 5,000 earlier)
The EPFO announced that pensioners can withdraw their pensions from any bank without additional verification. EPFO also looks to issue ATM cards for direct withdrawals
BSE shifted the expiry dates for derivatives related to Sensex and other indices to Tuesdays (from Fridays)
Tata Motors and Mahindra cars are now 3 per cent more expensive, while Maruti Suzuki cars are 4 per cent dearer
RBI raised the maximum limit for unsecured loans without mortgage to Rs 2 lakh (from Rs 1.6 lakh)
Mandatory Multi-Factor Authentication (MFA) has been implemented in the GST portal. E-way Bill generation restricted to base documents not older than 180 days
Depositors can withdraw the entire amount within 3 months without interest for small deposits below Rs 10,000. For large deposits, up to 50 per cent of principal or Rs 5 lakh (whichever is lower) can be withdrawn within 3 months without interest
There are also signs that the EPFO this year might give all salaried individuals the capability to withdraw money directly from ATMs. [Pics: Shutterstock]