Like every month, the new rules are changing from March 1, 2025. March 1 means 6 big rules are changing from today. This includes UPI, mutual funds to the price of LPG cylinders. These changes will directly affect your bank account. Let us know which rules are being changed.
LPG cylinder prices rise
Oil companies have increased the prices of 19 kg commercial gas cylinders. The price of this LPG cylinder has been increased by Rs 6, while on February 1, its price was reduced by Rs 7. The price of 19 kg commercial LPG cylinder has now been Rs 1803. At the same time, the price of commercial cylinder in Mumbai has been Rs 1755.50. Talking about Kolkata, the price of 19 kg commercial LPG gas cylinder has been Rs 1913 and the price of 19 kg LPG cylinder in Chennai has been Rs 1965.50. These prices are applicable from today itself. There has been no change in the price of LPG.
ATF price decreased
The price of jet fuel or aviation turbine fuel (ATF) has decreased by 0.23 percent. The ATF price for March 2025 in the national capital has come down from Rs 222 per kiloliter to Rs 95,311.72 per kilo, compared to Rs 95,533.72 earlier. Earlier on 1 February, prices had increased by 5.6 percent.
Changes in UPI’s rule
The next change is connected to the Insurance Payment System. From 1 March 2025, there is going to be a change in Unified Payment Interface (UPI), which will make the insurance premium more easier. In the UPI system, a new facility called Insurance-ASB (Apply Supported By Block Amount) is being added. Through this, life and health insurance policyholders will be able to block money in advance for their premium payment. After the approval of the policy holder, your money will be deducted from the account.
What is changing about mutual funds
Today, from the first date of March, the rules related to adding nominees to mutual funds and demat accounts are changing. Under this, an investor can add a maximum of 10 nominees in demat or mutual fund folio. Market regulator SEBI guidelines have been released in this regard, which is effective from March 1, 2025. The purpose of this change is to reduce the assets to be claimed and to ensure better investment management.
Punjab National Bank gave update
If there is no transaction in Punjab National Bank (PNB) for more than 2 years, then the bank account can be closed. The bank has issued an alert to its customers about this. The bank can de-activate such accounts. If you want your bank account to be active, then you should get KYC done for this.
14 days bank will be closed
According to the RBI Bank Holiday List, the banks will remain closed for 14 days in this month, including Holi (Holi 2025) and Eid-ul-Fitr. These include Sunday’s weekly holidays including the second and fourth Saturdays. However, despite the holiday in the bank, you can transact money through online banking and ATM or do other banking work. This service will be operational for 24 hours.