Big changes are coming into effect from March 1, 2025! Several key regulations in India will be updated, including LPG prices, insurance premium payment methods, and banking rules. Here’s what you need to know and how it may affect you.
As February comes to an end, March brings several crucial financial updates (Rule Change from March 1). These changes will directly impact households and individuals, covering aspects like LPG prices, payment methods for insurance premiums, and mutual fund nominations.
Like every month, the prices of LPG gas cylinders will be revised on March 1, 2025. In February, the price of a 19 kg commercial LPG cylinder was reduced. Oil and gas distribution companies adjust LPG prices on the first day of each month, and similar updates are expected this time as well.
Oil companies revise Air Turbine Fuel (ATF) prices at the beginning of every month. A change in jet fuel prices on March 1 could directly impact air travel costs for passengers.
Insurance premium payments will now become more convenient with Bima-ASBA, a facility introduced by IRDAI. This feature, set to launch on March 1, 2025, will allow users to pay premiums seamlessly using UPI, benefiting millions of digital payment users.
The Employees Provident Fund Organization (EPFO) has extended the deadline for activating Universal Account Number (UAN) and linking it with Aadhaar and bank accounts until March 15, 2025. Completing this process is essential for availing of EPFO’s ELI scheme benefits.
SEBI has revised the rules for mutual fund and demat account nominations. Starting March 1, 2025, investors can now nominate up to 10 people in their demat accounts or mutual fund folios.
The Reserve Bank of India (RBI) has released the bank holiday schedule for March 2025. According to the list, banks will be closed for a total of 14 days, including weekends and regional holidays. It’s advisable to check the bank holiday list before planning any in-branch transactions.
With these significant regulatory changes coming into effect from March 1, 2025, individuals should stay informed and plan their financial activities accordingly. Stay updated with more financial and career news on India Employment News.
