January 2025 Changes: The new year is bringing relief to pension holders. From January 1, 2025, the Employees Provident Fund Organization (EPFO) has simplified the rules for pension withdrawal.
January 2025 Changes: Less than a week is left for the new year to begin. Some new rules are also coming with the new year, which will directly affect your pocket. These include car prices, LPG cylinder prices, pension rules, Amazon Prime membership, UPI 123Pay rules and FD related rules.
1. Increase in car prices
Buying a car will become expensive in the new year. From January 1, 2025, major automobile companies like Maruti Suzuki, Hyundai, Mahindra, Honda, Mercedes-Benz, Audi and BMW will increase the prices of vehicles by up to 3%. Companies have attributed this to the increase in production costs. Therefore, if you are planning to buy a car, you may have to spend more.
2. LPG cylinder prices
On the first of every month, oil marketing companies review the prices of LPG. However, the price of domestic LPG cylinder (14.2 kg) has not changed for the last few months. Currently, its price in Delhi is Rs 803. At the same time, there has been a steady increase in the prices of commercial cylinders. The price of crude oil in the international market is $ 73.58 per barrel, which may lead to changes in prices in future.
3. Changes in pension withdrawal
The new year is bringing relief to pension holders. From January 1, 2025, the Employees Provident Fund Organization (EPFO) has simplified the rules for pension withdrawal. Now pensioners will be able to withdraw their pension from any bank in the country. For this they will not need any additional verification. This facility is a big relief for pensioners.
4. New rules for Amazon Prime membership
Changes have been announced in the rules of Amazon Prime membership, which will come into effect from January 1, 2025. Under the new rules, Prime Video can be streamed on only two TVs from a Prime account. If someone wants to watch Prime Video on a third TV, he will have to take an additional subscription. Earlier, Prime members could stream videos on up to five devices from a single account.
5. Fixed Deposit (FD) Rules
RBI has changed the rules related to fixed deposits for NBFCs and HFCs. The new rules will come into effect from January 1, 2025. Under these changes, some necessary provisions have been made to ensure the safety of deposits. This includes changes like taking deposits from the public, keeping a part of the liquid asset safe and insuring the deposit.
6. New transaction limit of UPI 123Pay
The transaction limit has been increased in the UPI 123Pay service launched by the Reserve Bank of India (RBI) for feature phone users. Earlier, a maximum transaction of Rs 5,000 could be done under this service, but now this limit has been increased to Rs 10,000. This facility will be effective from January 1, 2025.
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