March Rule Changes: How Will They Impact You?
March has started with significant rule changes that directly affect your finances, investments, and daily expenses. From LPG price hikes to new UPI insurance payments, here’s what you need to know.
What Are the New Rules for Mutual Funds and Demat Accounts?
To make asset transfers smoother, SEBI has introduced stricter rules for mutual fund folios and Demat accounts.
- From 1st March 2025, adding a nominee is mandatory for single account holders.
- Investors must provide nominee details, such as PAN, Aadhaar (last four digits), or driving licence number.
- Accounts without nominees might face future restrictions or delays in asset transfers.
If you have an investment account, update your nominee details now to avoid complications!
How Much Will LPG Prices Increase?
LPG commercial cylinder prices have gone up again, directly impacting restaurants, businesses, and household budgets.
- The 19 kg commercial cylinder price has increased by ₹6.
- New Delhi price: ₹1803 (previously ₹1797).
- In February, prices were reduced by ₹7, but this relief has now been reversed.
This increase will raise costs for small businesses and eateries, potentially making eating out more expensive.
How Has UPI Changed for Insurance Payments?
A new feature, Bima-ASBA (Application Supported by Blocked Amount), is now part of UPI transactions.
- Insurance buyers can block funds until their policy is approved.
- If the insurer rejects the application, the blocked amount will be refunded automatically.
- This ensures a secure and transparent payment process.
This update helps policyholders by preventing unauthorised deductions and giving them more control over payments.
What’s Changing in the GST System?
The GST portal is now more secure, with new measures to prevent fraud and data breaches. Multi-factor authentication (MFA) is now mandatory for login, and businesses must update their systems to comply with these changes. This security update is crucial for business owners, as failing to comply could result in delays in tax filings and transactions.
Will Air Travel Become Cheaper?
There’s good news for air travellers—Aviation Turbine Fuel (ATF) prices have been reduced, which might lower flight fares soon.
- Price cut: ₹222 per kilolitre.
- Airlines might pass on the benefit by reducing ticket prices.
If you’re planning a trip, keep an eye out for airfare discounts in the coming weeks!
Are FD Interest Rates Changing?
Some banks might revise their Fixed Deposit (FD) interest rates this month. FD rates depend on RBI’s repo rate policies, and any changes could impact both new investors and existing deposits. If you’re planning an FD investment, check with your bank for updated rates. This update will affect savings plans, so staying informed is important.
How Should You Prepare for These Changes?
These rule updates will impact budgets, savings, and daily expenses. Here’s what you can do:
- Households should adjust budgets to accommodate higher LPG costs.
- Investors should update nominee details in mutual fund and Demat accounts.
- Travellers can benefit from potential airfare reductions.
- Business owners must ensure they follow new GST security measures.
By staying updated and making smart financial decisions, you can minimise the impact of these changes!
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