LPG Price: Significant alterations are set to take place starting January 1, 2025, which will also impact the finances of ordinary individuals. These consist of various regulations extending from UPI payments to EPFO pensions, Amazon Prime memberships, LPG gas cylinder costs, and rises in car prices. These modifications will have a direct impact on your everyday habits and financial strategies.
LPG Gas Cylinder Price can update
The cost of LPG gas cylinders is evaluated at the start of each month. It is thought that the costs of residential and business gas cylinders could be adjusted on January 1. Over the last several months, the costs of 19 kg commercial cylinders have varied, whereas the prices of 14 kg domestic cylinders stayed consistent.
The prices of cars can rise
Firms such as Hyundai, Tata, Maruti Suzuki, Mercedes-Benz, and Audi are set to raise the prices of their vehicles by as much as 3% in the upcoming year. If the cost of a car was Rs 7 lakh in December, it will rise to approximately Rs 7.21 lakh in January.
EPFO pension regulations
There will be a major shift for retirees beginning January 1, 2025. From now on, retirees will have the option to withdraw their pension from any bank throughout the country. They will not require any additional verification for this.
UPI transaction limit
The upper limit for transactions using the UPI 123Pay service will rise from Rs 5,000 to Rs 10,000. With this service, users of keypad phones can process payments without needing internet access.
Regulations for non-banking finance firms
The Reserve Bank of India (RBI) has introduced new regulations for non-banking finance firms and housing finance companies. According to these regulations, firms must secure liquid assets and provide insurance for deposits.