New Rules Effective from March 1: The new financial and regulatory changes have shaken people beginning from March 1, 2025. They have affected LPG cylinder prices, Demat accounts, UPI payments, and taxation. Most importantly, these changes have an impact on personal and commercial lives in the household since they will directly affect household budgets, investment strategies, and financial planning.
Here is what you need to know in detail about all 7 major changes:
1. New Nomination Rules for Demat and Mutual Fund Accounts
At the same time, SEBI has brought an important change in the nomination process: “Nomination for Demat and Mutual Fund accounts now allows nomination of up to 10 persons in such accounts.” For example, in case of a single-holder account, a nominee will thus be mandatory for ensuring smoother transfer of assets in unforeseen circumstances.
The nominees will be required to provide PAN/Aadhaar last four digits or driving license number for verification. In case of death of one holder in joint accounts, the assets will automatically transfer to the surviving holder.
2. Increase in LPG Cylinder Prices
As of March 1, 2025, the price of a commercial LPG cylinder weighing 19 kilograms has increased by ₹6. This is the new pricing structure across the major cities:
- Delhi: ₹1,803 (earlier it was ₹1,797)
- Kolkata: ₹1,913 (before ₹1,907)
- Mumbai: ₹1,755.50 (earlier it was ₹1,749.50)
These changes are going to bother household users and small businesses that use commercial cylinders.
3. Fixed Deposit (FD) Interest Rates Revised
Post-cut in RBI’s repo rate, interest rates on FDs were revised downwards by many banks. This will also affect home loan interest rates, leading investors to rethink their savings and investment plans. There are indications that many banks will announce further changes in March; thus, be on the lookout for updates to enhance your returns.
4. New UPI Payment Rule for Insurance Premiums
A new rule has come into force regarding UPI payments, this time for insurance premiums. By means of the Insurance-ASBA facility, policyholders can block the premium amount in their respective bank accounts. Upon approval of the insurance proposal, the sum is automatically deducted. If rejected, the funds are unblocked and lie in the account. This adds to the transparency and comfort of policyholders.
5. Tax Changes in Favor of Taxpayers
New tax slabs and an increased TDS limit have been dropped as hints by the government effective from March 2025. These changes are hoped to provide much-needed relief to the middle class and salaried class, easing their financial burdens. Stay abreast of the latest announcements and take full advantage of tax-saving links.
6. GST Portal Security Enhanced
Multi-factor authentication (MFA) has been introduced to strengthen the GST Portal’s security. Businesses will be required to update their IT systems in compliance with this new requirement, making the GST-filing process more secure and seamless from the interface end. The measure is intended to curb fraud and enhance user confidence in the system.
7. Bank Holidays in March
In March 2025, banks will close for 14 days, which includes 5 Sundays, 2 days for Holi, and 7 more days for festivals and weekly-offs. Schedule your banking transactions properly to avoid inconvenience.
Why These Changes Function
These announcements represent steps taken by the government to unblock the fishmind. Whereas they pinpoint the necessity of being informed and taking action about managing one’s finances, such procedures should be applied with utmost immediacy. These changes might necessitate immediate attention, such as changing your Demat account nominations, adjusting your budget for LPG price hikes, or claiming new tax benefits.