New Bank Rules - Business Outrank

From April 1, 2025, new bank rules will come into effect all over India and the use will be affected for the account holders. These updates will affect ATM withdrawals, minimum balance, credit card benefits and digital banking security. Customers must ensure that they are well informed to avoid incurring penalties or to take full advantage of the changes that have been made. One of the major updates is concerning ATM withdrawal policies. Today, SBI, Punjab National Bank, and Canara Bank have announced that they are restricting the number of times a customer can withdraw money from ATMs of other banks for free. It means that you will be able to make only three free withdrawals from other banks’ ATMs and from the fourth withdrawal you will be charged between ₹20-25 per transaction. The rules regarding the minimum balance are also being changed. It means that the balance that is required is going to vary with the type of account – either urban, semi-urban or rural. Customers who fail to meet the set limits will be charged penalties, so it is important that customers are aware of their balances. To increase the security of the transactions, the Positive Pay System (PPS) is being introduced by the banks. This means that for checks drawn on the customer’s account for more than ₹5,000, the customer has to confirm the check details like the check number, date, payee name and amount. This measure is expected to help in the fight against fraud and to make the transactions more secure. To enhance the digital banking, the banks are launching the chatbots with the help of artificial intelligence and enhancing the online banking. Two-factor authentication and biometric identification will also be available as additional security features for the digital transactions. The interest rates on savings accounts and fixed deposits are also being changed. Some banks will now provide higher interest rates on the account balances, thus encouraging the customers to keep higher levels of funds in their accounts. Meanwhile, large banks such as SBI and IDFC First Bank have made alterations to their co-branded Vistara credit cards. Current benefits of ticket vouchers, milestone rewards and renewal benefits will be unavailable. Axis Bank will bring similar alterations from April 18, affecting its Vistara credit card holders.

What's Hot

IMF Sounds Alarm Over Global Economy Amid Trump’s Tariff Shock

Ambuja Cement Secures 37.8% Stake in Orient Cement, Becomes New Promoter

Gold Price Hits Historic ₹1,01,600 as Festive Demand Soars in India

Virus Susceptibility in Species: Study Reveals Surprising Findings

Effective Yoga Poses to Naturally Manage Blood Sugar Levels

Health Budgets Of States Fall Below 8%, Missing National Health Policy Targets

The Connection Between Diet and Organic Skincare – Foods for Healthy Skin

Priyanka Chopra’s Stunning Desi Look Steals the Spotlight at Her Brother’s Wedding Festivities

Jana Nayagan: Vijay Wields a Whip in Stunning 2nd Look Poster, Thrilling Fans

Assam’s Jatin Goswami Honored with Padma Bhushan for Sattriya Legacy

Vijay Vikram Singh Urgently Appeals for Respect Amidst Intense Backlash from Rajat Dalal Fans: ‘I Am Not Bigg Boss

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Indian government approves Singapore Airlines bid to merge Vistara and Air India

Independence Day and Raksha Bandhan Fuel Airbnb Travel Rush

Virus Susceptibility in Species: Study Reveals Surprising Findings

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Bachchan’s ₹83 Crore Duplex Sale Sparks Unbelievable Investment Growth

Kartik Aaryan’s Fitness Secret: How He Achieved a Stunning Transformation

Browsing: New Bank Rules

New Bank Rules From April 1, 2025: Key Changes in ATM Fees, Minimum Balance & More

IMF Sounds Alarm Over Global Economy Amid Trump’s Tariff Shock

Ambuja Cement Secures 37.8% Stake in Orient Cement, Becomes New Promoter

Gold Price Hits Historic ₹1,01,600 as Festive Demand Soars in India

Fixed Deposits Offering Up to 9% Returns Amid Changing Rate Trends

Our Picks

IMF Sounds Alarm Over Global Economy Amid Trump’s Tariff Shock

Ambuja Cement Secures 37.8% Stake in Orient Cement, Becomes New Promoter

Gold Price Hits Historic ₹1,01,600 as Festive Demand Soars in India

Most Popular

IMF Sounds Alarm Over Global Economy Amid Trump’s Tariff Shock

Harvesting Hope: Rahul Gandhi’s Empathy in Action with Farmers before 2024 Elections

Is Modi Afraid? Congress Leader Accuses PM of Targeting Rahul Gandhi

Subscribe to Updates

What's Hot

Browsing: New Bank Rules