Changes from March 1: There may be a change in the rules related to adding nominees in mutual fund and demat accounts. Under the new change, an investor can add a maximum of 10 nominees in a demat or mutual fund folio. Often the price of LPG cylinder changes on the first date of every month
The first date of every month in the country brings with it some changes or new rules. This is also going to happen from the first date of March. Some new rules are going to be implemented, while some changes are likely to happen. Everyone is going to be affected by these changes. Let’s take a look at them….
Changes related to UPI
From March 1, 2025, a new feature called Bima-ASB (Application Supported by Block Amount) is being added to the UPI system. Through this, life and health insurance policyholders will be able to block money in advance for their premium payment. Money will be deducted from the account only after the approval of the policy holder. Regarding this, the Insurance Regulatory and Development Authority of India (IRDAI) had issued a circular on February 18.
It states that all insurance companies will have to offer the facility of insurance-SBA to their customers from March 1. Money will be transferred from the policyholder’s account to the insurance company only after the insurance company issues the policy. To use this facility of insurance payment, the customer has to select this facility in the proposal form of the insurance company. This facility will be available in the proposal form of all insurance companies from March 1. After selecting this facility in the customer’s proposal form, the insurance company will create a one-time mandate through UPI.
LPG cylinder prices
Often the price of LPG cylinder changes on the first of every month. However, sometimes it remains the same. It is possible that LPG prices may increase from March 1. On February 1, 2025, the price of 19 kg commercial gas cylinder was reduced by up to Rs 7. However, the price of 14 kg domestic LPG cylinder did not change.
Change in ATF price
The price of aviation fuel i.e. Air Turbine Fuel (ATF) also changes on the first of every month. The price of ATF was increased by 5.6 percent from February 1. After this, the price increased by Rs 5,078.25 per kilolitre to Rs 95,533.72 per kilolitre. Air travel is likely to become expensive when the price of ATF increases.
10 Nominees in mutual funds account
From March 1, there may be a change in the rules related to adding nominees in mutual fund and demat accounts. Under the new change, an investor can add a maximum of 10 nominees in a demat or mutual fund folio. These nominees can be seen as joint holders or different nominees can be chosen for different single accounts or folios. The new guidelines of capital market regulator SEBI may come into effect from March 1, 2025.
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