As we welcome 2025, a series of key changes in rules and regulations will take effect, directly influencing your wallet. From adjustments in car prices to shifts in financial services and easier access to pension funds, these changes are set to impact everything from your daily expenses to your long-term financial plans. Here's a breakdown of the most significant updates you need to know as the new year begins, ensuring you are well-prepared for the changes ahead.
Sensex’s Monthly Expiry to ChangeStarting January 1, 2025, there will be a shift in the expiry dates for Sensex, Bankex, and Sensex 50 contracts. These contracts will now expire on the last Tuesday of every month instead of the previous schedule. While Sensex contracts used to expire on the last Friday of the month, Bankex on the last Monday, and Sensex 50 on the last Thursday, all will now be aligned to Tuesday expiry.
Increase in Car PricesIf you’re planning to buy a new car, expect to pay more in the new year. Leading car manufacturers such as Tata Motors, Maruti Suzuki, Hyundai, Mahindra, Mercedes-Benz, Honda, Audi, and others have announced price hikes for their vehicles, effective from January 1, 2025. This price increase will impact the cost of purchasing new cars across various segments.
EPFO Pensioners Get Relief
In a major relief for EPFO pensioners, the new year brings a significant change. Pensioners will now be able to withdraw their pension from any bank in the country without the need for additional verification. This move is aimed at simplifying the process and providing easier access to pension funds for retirees.
UPI 123 Pay Limit IncreasedThe National Payments Corporation of India (NPCI) has raised the limit for UPI 123 Pay, a feature that enables mobile-based payments for low-value transactions. Currently, the service allows transactions up to Rs 5,000. However, starting January 1, 2025, the transaction limit will be increased to Rs 10,000, offering users more flexibility for payments without needing internet access.
LPG Price AdjustmentsLPG prices are revised on the first of every month, and it remains to be seen whether there will be any changes in the price of LPG cylinders on January 1, 2025. Consumers will need to check for updates from fuel companies on the day.
Increased Collateral-Free Loans for FarmersFarmers are set to benefit from an increase in the limit for collateral-free loans. The Reserve Bank of India (RBI) has raised the limit for unsecured loans to farmers from Rs 1.60 lakh to Rs 2 lakh, starting in the new year. This will provide easier access to financial support for agricultural needs.
These rule changes in 2025 will have a direct financial impact, so it's essential to stay informed and adjust your plans accordingly. Whether it’s higher car prices, better access to loans, or changes in pension withdrawal processes, the new year is ushering in some significant changes to keep in mind.