As we step into 2025, several critical changes in policies and financial regulations will take effect. These updates span various sectors, including taxation, digital payments, and trading. It’s vital for individuals and businesses to understand these changes for effective compliance and financial planning.
Financial Changes in Digital Payments and Banking
UPI 123Pay Transaction Limit Increase
The National Payments Corporation of India (NPCI) has raised the transaction limit for UPI 123Pay from ₹5,000 to ₹10,000. This change aims to facilitate larger transactions for feature phone users, promoting digital financial inclusion.
Simplified EPFO Pension Withdrawals
Starting January 1, 2025, pensioners can withdraw funds from any bank without additional verification under the Employees’ Provident Fund Organisation’s (EPFO) new centralized pension payment system.
Policy Changes in Taxation
GST Portal Updates
- Mandatory Multi-Factor Authentication (MFA): To improve security, all GST portal users must complete MFA to log in.
- E-Way Bill Validity Restriction: E-Way Bills will only be valid for documents up to 180 days old, requiring businesses to adjust their invoicing practices.
TDS Statement Enhancements
Tax Deducted at Source (TDS) statements will now reflect net TDS benefits for eligible income, streamlining the tax filing process for salaried individuals.
Market and Trading Adjustments
Share Market Expiry Rules
- NSE Changes: Monthly expirations for Nifty Bank, FinNifty, Nifty Midcap Select, and Nifty Next50 contracts will shift to Thursdays.
- BSE Updates: Expiry for Sensex, Bankex, and Sensex 50 contracts will move to the last Tuesday of every month.
Revised Fixed Deposit Regulations for NBFCs
New Reserve Bank of India (RBI) guidelines will regulate premature FD withdrawals and nomination facilities with NBFCs to enhance depositor security.
Telecommunications and Consumer Services
Right of Way (RoW) Rules
The Department of Telecommunications has introduced new RoW rules to streamline the laying of underground infrastructure, ensuring smooth coordination between service providers and local authorities.
Credit Card Lounge Access Changes
Credit card lounge access policies will be revised, with potential changes in the number of free visits or eligible lounges.
Overview of Changes
| Category | Key Changes |
|---|---|
| Digital Payments | UPI 123Pay transaction limit increased to ₹10,000 |
| Taxation | MFA for GST, updated TDS statements, E-Way Bill validity capped at 180 days |
| Pension Withdrawals | EPFO centralized pension withdrawal system |
| Market Regulations | NSE and BSE expiry rule updates |
| Banking and Investments | New FD regulations for NBFCs |
| Telecommunications | RoW rules for underground communication infrastructure |
| Consumer Services | Revised credit card lounge access policies |
These changes represent India’s evolving regulatory and financial landscape. Understanding and adapting to these updates is crucial for maintaining compliance and optimizing personal and business finances in 2025.
