Starting February 2026, several important banking and credit card rules will change for customers of major banks such as SBI, ICICI Bank, HDFC Bank, and Punjab National Bank (PNB). These updates will directly impact daily financial activities including money transfers, credit card rewards, and account operations.
Under the new guidelines, some services will become more expensive, while certain benefits will be reduced. In addition, banks have tightened compliance related to Know Your Customer (KYC) norms, making timely updates essential for uninterrupted banking services.
State Bank of India (SBI) has announced revised service charges for IMPS (Immediate Payment Service) transactions, effective from 15 February 2026. The new charges will mainly affect customers transferring higher amounts online.
According to the updated fee structure:
Transfers between ₹25,000 and ₹1 lakh will attract a charge of ₹2 + GST
Transfers between ₹1 lakh and ₹2 lakh will cost ₹6 + GST
Transfers between ₹2 lakh and ₹5 lakh will be charged ₹10 + GST
There will be no change in fees for small-value IMPS transactions. However, customers who frequently transfer large sums can expect an increase in transaction costs.
ICICI Bank is set to discontinue the complimentary movie ticket benefit on select credit cards from 1 February 2026. Until now, customers enjoyed free movie tickets through platforms such as BookMyShow, which will no longer be available on certain card variants.
Despite this change, the bank will continue offering reward points on essential spending categories such as transportation and insurance. In fact, some card variants may receive an improved reward structure for utility and daily expenses, even though entertainment perks are being reduced.
HDFC Bank has also announced changes to its premium Infinia Metal Credit Card. From February 2026 onward, cardholders will be allowed to redeem their reward points only five times per month.
Earlier, there was no restriction on the number of redemptions. The bank stated that this revision aims to make the reward system more structured and balanced. While customers can continue earning reward points as usual, the frequency of redemption will now be limited.
Punjab National Bank (PNB) has issued a strict notice regarding KYC compliance. Customers whose KYC validity expired on 31 December 2025 must update their details by 2 February 2026.
Failure to complete the KYC update within the deadline may result in:
Restrictions on account transactions
Limited or suspended digital banking services
Possible block on cash withdrawals
This move follows the Reserve Bank of India’s guidelines to strengthen customer verification and prevent misuse of banking services.
With these new rules coming into effect, bank customers are advised to take the following steps:
Check the updated IMPS transaction charges before transferring large amounts
Review their credit card benefits and reward policies
Ensure KYC details are updated within the prescribed deadline
Ignoring these changes could lead to higher charges, reduced benefits, or temporary disruption of banking services.
