Fixed Deposit Rule: As the new year 2025 begins, numerous regulations affecting your life will undergo changes. These regulations may strain your finances, while others may enhance your amenities. The upcoming year brings numerous changes in areas such as fixed deposit regulations, credit card perks, visa policies, and more. Lack of awareness about these changes may result in overlooking crucial deadlines.
Fixed deposit rules
The Reserve Bank of India (RBI) has altered the fixed deposit regulations for non-banking financial institutions and housing finance companies. The updated FD regulations will take effect starting January 2025. These guidelines pertain to matters like accepting public deposits, sustaining a minimum ratio of liquid assets, and the repayment of public deposits.
NCP guidelines
The National Payments Corporation of India (NCP) will implement the revised guidelines for RuPay credit card users starting January 1, 2025. The updated policy will implement tiered spending guidelines for exclusive access to airport lounges.
EPFO rule
CPPS will be executed as a component of EPFO’s IT modernization initiative CITES 2.01, with a start date planned for January 1, 2025.
Visa rule
Indians intending to apply for visas to destinations such as Thailand, the United States, and the United Kingdom should take note of the new updates to the visa regulations that will take effect next year.
UPI payments for full KYC
From January 1, 2025, RBI will allow UPI payments for fully KYC-compliant PPIs via third-party UPI applications. The Telecommunications Department released the Telecommunication (Right of Way) Rules 2024, often referred to as the RoW Rules, on September 19, 2024. These regulations will take effect starting January 1, 2025.
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