From FDs to UPI payments and RuPay credit card perks, several updates in financial rules will take effect in 2025. Here’s how they might impact you.
1. Fixed Deposit (FD) Rule Changes
The RBI has updated regulations for NBFCs and housing finance companies:
- Stricter rules for accepting public deposits.
- Minimum liquid asset requirements.
- Ensured timely repayment of deposits.
These changes enhance safety and transparency. If you hold FDs with NBFCs, stay informed to secure your deposits!
2. RuPay Credit Card Lounge Access
- From Jan 1, 2025, lounge access for RuPay credit cards will change:
- Tier-based spending criteria introduced.
- Meet specific spending thresholds to access premium airport lounges.
Frequent flyer with a RuPay card? Check the new criteria to retain lounge benefits.
3. UPI Payments for Full-KYC PPIs
- Good news for UPI users!
- From Jan 1, 2025, full-KYC Prepaid Payment Instruments (PPIs) like wallets/cards can use UPI.
- More seamless and flexible digital payments through third-party UPI apps.
If you use full-KYC PPIs, expect an even smoother payment experience in 2025!
Stay Ahead: These changes aim to improve financial security, payment ease, and benefit access. Be prepared to adapt and make the most of them!