Rule Change: Many rules are changed on the country’s first date of every month. In such a situation, some essential rules will also be implemented from the first date of March 2025, which will significantly impact the pockets of the general public. These include new facilities related to UPI and possible changes in the prices of LPG and ATF. So let’s know about these new rules in detail:-
1.Insurance-ASB facility implemented in UPI
The first rule is related to UPI. Starting on March 1, 2025, a new feature called Insurance -ASB Supported by Block Amount will be added to the UPI system. Through this, life and health insurance policyholders can block money in advance for their premium payment. Money will be deducted from their account only after the policyholder’s approval.
2. LPG cylinder price
Changes are also seen in the prices of LPG gas cylinders on the first date of every month. However, this doesn’t need to be done every month. It will be known only tomorrow whether the price of LPG will increase or decrease from March 1. Let us tell you that on February 1, 2025, the price of a 19 kg commercial gas cylinder was reduced by Rs 7, while no change was seen in the prices of a 14 kg domestic cylinder. This time, there is a possibility of both an increase or reduction in prices.
3. Nomination rules will change
New rules for nomination for mutual funds and demat accounts are going to be implemented by SEBI from March 1, 2025. After this change, a maximum of 10 nominees can be added. Investors will have the right to decide in advance what percentage of the amount is to be allocated to the people they have nominated.
4. FD interest rates
FD rules can also be changed from March 1. Many banks have changed their FD rates.
5. Tax-related changes
Many tax-related changes can be seen from March 1. Tax slabs and TDS limits will be changed so taxpayers can get relief. Apart from this, the TDS limit for senior citizens will be increased from Rs 50,000 to Rs 1 lakh.