These new charges will be applicable from August 15, 2025. According to PTI news, no change has been made on IMPS transactions done through the branch. But now if an amount of more than ₹ 25,000 is transferred through online medium (such as net banking or mobile banking), then minimum charges will be applicable on it.

New IMPS Charges (for online transactions)

Transaction amount Service charge (GST extra)

₹25,000 – Up to ₹1 lakh ₹2
₹1 lakh – Up to ₹2 lakh ₹6
₹2 lakh – Up to ₹5 lakh ₹10

GST will be applicable additionally with the above charges.

Who will get the discount?

Salary package account holders will continue to get full exemption on online IMPS transactions as before. There will also be no charge on online IMPS transactions of current accounts such as Gold, Diamond, Platinum, Rhodium, Government Department, Autonomous/Statutory Bodies. New service charges for corporate customers will be applicable from 8 September 2025.

What is IMPS

IMPS (Immediate Payment Service) is a robust and real-time payment system that allows users to transfer funds instantly 24×7 through interbank funds. This service is available through multiple channels including mobile apps, internet banking, bank branches, ATMs and SMS. With the help of IMPS, money can be transferred between bank accounts across the country in just a few seconds. This system is fast, secure and cost-effective, thereby promoting digital payments.

Currently, there are a total of 958 active members on the IMPS network, which includes various banks and prepaid payment instrument (PPI) companies. With the facility of IMPS, consumers can now send or receive money from anywhere and at any time, that too without any delay.

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The government is considering a 5-day working week for banks, although no final decision has been taken yet. Responding to this in the Lok Sabha on 28 July 2025, the Finance Ministry said that the proposal is under review and no fixed date for implementation has been given yet.

What are the rules now ?

At present, the country’s public sector banks ( PSBs) remain closed on the second and fourth Saturdays of every month. Banks remain open on the remaining Saturdays. This rule came into effect in 2015, when the 10th bilateral agreement was signed between IBA (Indian Banks’ Association) and bank unions.

What is the new proposal of IBA ?

IBA has urged the Finance Ministry to declare all Saturdays as a holiday for banks so that a 5-day work week can be implemented in the banking sector. This would mean that banks would be open only from Monday to Friday.

What did the government say?

The government said that this proposal is still under consideration and no timeline has been given yet for its implementation .

Answer to the shortage of staff

MP KC Venugopal had also raised a question in the Lok Sabha about the shortage of staff and the time frame for implementing this proposal. On this, the government said that 96% of the total staff posts in all government banks are filled till March 31, 2025. Whatever little shortage there is, is due to retirement and normal resignations.

Who decides the staff in the bank?

The government clarified that every government bank decides its staffing needs through its board . It is based on the business of the bank , retirement of staff and other needs . If this proposal is implemented , there may be changes for the customers , but bank employees may get relief from this .

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The finance department gave the order

The Finance Department has ordered all the department heads to give the benefit of annual increment to the employees falling under this purview. In the new system, state employees get the benefit of salary increment from July. But if someone is retiring on 30 June, then he was not getting this benefit. On this, the argument of the employees was that they worked for the whole year but due to one day less, they are being deprived of the benefit of salary increment. Such cases also went to the court. The court also gave the decision in favor of the employees (Government Employees).

Benefits will not be available in previous cases

In the order of the Finance Department , it has been asked to give salary increment to the employees retiring on 30 June and 31 December on the next date. Earlier, the guidelines of 18 November 2024 will be followed. Under this, they will get annual increment but will not get many benefits. These include increased gratuity, leave encashment etc.

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Actually, the Narendra Modi government at the Center had started many schemes for the poor in its first term. Two such schemes are Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY). These schemes were started in the year 2015, which provide insurance cover of up to Rs 4 lakh to the customers. The deadline to renew both these schemes is ending on 31st May.

what does it mean

If you pay premium for both the schemes, you get insurance cover of up to Rs 4 lakh. The premium of both the schemes is for a period of one year. As soon as this period ends, the premium has to be paid once again. Only after this, customers get insurance cover. The total premium of both the schemes is less than Rs 500.

About the scheme

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a one-year life insurance scheme that covers death due to any reason. Individuals in the age group of 18-50 years are eligible for this. Those who join the scheme before completing the age of 50 years can continue to take the risk of life till the age of 55 years on payment of regular premiums. The premium for this scheme is Rs 436 per year. In return, a life cover of Rs 2 lakh is available.

Prime Minister’s Security Insurance Scheme (PMSBY)

This is a one-year accident insurance plan that provides coverage for death or disability due to accident. Individuals in the age group of 18-70 years can join it. Accidental death cum disability cover of Rs. 2 lakh (Rs. 1 lakh in case of partial disability) is available for death or disability due to accident at a premium of Rs. 20/- per year.

Enrolment under both the schemes can be done at the account holder’s bank branch/BC point or by visiting the bank’s website or at the post office in case of post office savings bank account. The premium under the scheme is auto debited from the subscriber’s bank account every year.

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Small savers benefit

The government had recently reviewed the interest rates of small savings schemes. In the review, interest on Sukanya Samriddhi Yojana and 3 year deposit scheme was increased to 0.20 percent. The new increased interest rates are for the January-March 2024 quarter. The quarter has started from today. Meaning, the benefits of these increased interest rates will start coming from today. The interest rate on Sukanya Samriddhi Yojana has now increased to 8.20 percent. The interest rate on 3 year time deposits has increased to 7.10 percent.

Will be able to get SIM without submitting documents

Customers taking new mobile connections are going to get the benefit of simplified process in the new year. After recent changes in the rules, the need to submit physical documents has been eliminated. Now KYC verification for the new SIM will be completely digital. This will prevent cases of misuse by taking SIM in someone else’s name.

Insurance documents will become easier

Insurance regulator IRDAI has asked all insurance companies to issue revised customer information sheets from January 1, 2024. Customer Information Seat i.e. CIS contains all the information related to insurance. IRDAI has asked the insurance companies to provide all the information in CIS in simple language, so that even the common customer can understand all the terms and conditions of the related insurance.

The dream of a new car becomes expensive

If you are planning to buy a new car in the new year, then this update is going to be disappointing for you. Many car companies including Maruti Suzuki, Tata Motors, Mercedes-Benz and Audi have announced to increase the prices of their various cars from the first of the year. Car companies say that due to rising costs they have to increase prices.

These UPI IDs will be closed

Currently, most of the transactions in the country are taking place through UPI. From big cities to remote villages, it has reduced people’s dependence on cash. However, with the rise of digital banking the risks of fraud have also increased. Due to this, a large number of UPI IDs are being closed from today. This action is being taken on those UPI IDs which have not been used for the last one year.

The post Big Update: These 5 major changes in personal finance rules from today first appeared on Rightsofemployees.com.

Actually, Indian Railways has made a big change in the rules keeping in mind the convenience of the passengers. This is generally known to all the passengers traveling in the train. The recent change made by the Railways is about the passengers traveling at night.

According to the new rules of the railway, now no passenger in your seat, compartment or coach can talk on the mobile in a loud voice or listen to songs in a loud voice. Railways has issued new guidelines so that the sleep of the passengers is not disturbed and they can sleep peacefully during the journey

According to media reports, many passengers often complain that people traveling together in their coach talk loudly on the phone, or listen to songs till late at night. There was also a complaint from some passengers that the railway escort or maintenance staff also talks loudly. Apart from this, many passengers keep lights on even after 10 pm, which disturbs their sleep. In view of this, the Railways has made a new rule. In such a situation, if any passenger does not follow the rules, then action will be taken against him.

Know what are the new rules

The Railway Board has decided that if you are talking fast on mobile after 10 pm during the journey in the train, then strict action will be taken. According to the new rules, passengers can neither talk loudly nor listen to music during night travel. If any passenger complains, then it will be the responsibility of the staff present in the train to resolve it.

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Along with this, Gadkari also inaugurated two national highways in Assam. The total cost of these four highway projects is around Rs 1,450 crore. In an online event, Gadkari laid the foundation stone for four-laning Mangaldei Bypass on National Highway 15 at a cost of Rs 535 crore and 13-km Daboka-Parakhuwa section on National Highway 29 at a cost of Rs 517 crore.

National Highway

He also dedicated to the nation the 10 km long Nagaon Bypass-Teliagaon section of National Highway 127 constructed at a cost of Rs 247 crore and the eight km long Teliagaon-Ranggara section of the same highway constructed at a cost of Rs 156 crore. Speaking on the occasion, Gadkari said that Assam is moving towards growth and development and the state government has also shown speed in land acquisition and environmental clearance for these projects.

Development

He said that this is in line with the instructions of Prime Minister Narendra Modi for the development of roads and other infrastructural facilities in the entire North Eastern region including Assam. Apart from this, while addressing the Green Energy Conference, Gadkari told many important things. Union Minister Nitin Gadkari said that India can reduce its pollution by more than 40 percent by not using fossil fuels like petrol and diesel. Significantly, India imports crude oil worth Rs 16 lakh crore every year.

Fossil fuel

Addressing the Green Energy Conference, Gadkari said, “We can reduce pollution by 40 percent by not using fossil fuels like petrol and dieselGadkari stressed on the importance of institutions like IITs to bring in new technology to promote clean and green energy. He said that the new technology should be need-based, economically viable and raw material should be available for it.

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Accepting the demands of the employees, old pension (OPS) has been restored in many non-BJP ruled states. The governments of Rajasthan, Chhattisgarh, Himachal Pradesh, Punjab and Jharkhand have started giving the benefit of Old Pension Scheme to the employees. But the Reserve Bank of India (RBI) has warned against this decision of the state governments.

Restoring OPS will increase financial burden

RBI said that restoring the OPS will increase the financial burden of the states. Through ‘State Finances: Study of Budget of 2022-23’ (State Finances: A Study of Budgets of 2022-23), the central bank said in its report that this step is a big risk for the future. This decision can create a problem of unfunded pension liabilities in the coming years. RBI said, there is a possibility of change in the old pension scheme from some states.

The Central Government has been informed

The Central Government has been informed about the decision of the Government of Chhattisgarh, Rajasthan, Himachal Pradesh, Punjab and Jharkhand to restore the Old Pension Scheme (OPS). These governments had promised to restore the old pension in their election manifestos. After this, political tussle is going on between non-BJP and BJP ruled states. RBI said that the annual saving in fiscal resources due to the move to restore the old pension is short-term.

This is how funding is done in OPS.

Let us tell you that in 2004, the BJP-led NDA government had abolished the Old Pension Scheme (OPS) with effect from April 1, 2004. Instead, the National Pension Scheme (NPS) was introduced. Under this, government employees give 10 percent of their basic salary in pension. In this, 14 percent is contributed by the government. Private sector employees are also included in NPS.

Experts say that the old pension is not fiscally sustainable. This is a responsibility that continuously increases the burden on the exchequer. Earlier, former RBI governor D Subbarao also spoke a lot about the negative effect of OPS.

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This bank is now giving interest ranging from 3.25% to 7% to the general public on FDs maturing in 7 days to 10 years. At the same time, this interest rate for senior citizens ranges from 3.75 percent to 7.75 percent.

How much interest is available on FD of 18 months to 36 months

Yes Bank is now offering interest up to 7.75 per cent to the general public and 8.25 per cent to senior citizens on FDs of 18 months to 36 months. This new interest rate has become effective from 2 May 2023 only. Yes Bank is now paying 2.25% interest on FDs maturing in 7 days to 14 days. At the same time, the interest rate on FDs maturing in 15 to 45 days is 3.70 percent. This interest rate is 4.10 per cent for FDs maturing in 46 to 90 days and 4.75 per cent for FDs maturing in 91 to 180 days.

Getting more than 7 percent interest on this period

Yes Bank’s FD maturing between 181 days to 271 days is being given interest at the rate of 6 per cent. At the same time, investors are being given an interest rate of 6.25 percent on FDs with a tenure of 271 days to 1 year. At the same time, an interest rate of 7.50% is being given on FDs maturing between 1 year and 18 months. While FD with a period of 18 months to 36 months is being given an interest rate of 7.75%. At the same time, the interest rate on FDs maturing in 36 months to 120 months is up to 7 percent. On the other hand, senior citizens are getting the benefit of extra .50 percent interest rate for a period ranging from 7 days to less than 3 years.

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old pension scheme

A notification in this regard has already been issued recently through Himachal Pradesh Chief Secretary Prabodh Saxena. According to the notification “In view of the cabinet decision for implementation of the old pension scheme under the CCS (Pension) Rules 1972, the State Government has decided that the State Government employees (employee and employer share) covered under the National Pension System The contribution will be stopped from 1st April, 2023.”

Pension

This move will benefit both retired and serving employees and employees with more than 20 years of service will be entitled to pension of 50 per cent of basic pay and DA. At the same time, this step is likely to put a burden of Rs 1000 crore on the exchequer. Earlier this year, after the Himachal Pradesh government decided to restore OPS, Chief Minister Sukhwinder Singh Sukhu said after a cabinet meeting, “The aim of the government is to provide social security to all.

We have decided to implement OPS from the point of view of social security and humanity. The affordability of OPS expenditure will be achieved through financial discipline and reduction in expenses and we believe that there is nothing that cannot be done.”.

New Pension Scheme Vs Old Pension Scheme

Explain that the old pension scheme is based on the last salary earned by the employee. Whereas NPS is known as Contributory Pension System. Under OPS, the employee can withdraw 50 percent of the last drawn pay as pension after retirement. And under NPS, a person is allowed to withdraw 60 percent of the corpus accumulated during his working years at the time of retirement, which is tax-free. The remaining 40 percent is converted into an annuity product, which can currently provide a pension of 35 percent of the person’s last salary.

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Meanwhile, now a demand is being made on behalf of the railway employees to implement the Old Pension Scheme. Many states have already decided about this and they have also started it in their states. Meanwhile, a big statement has come from Union Finance Minister Nirmala Sitharaman. The Finance Minister clearly said that the money of the New Pension Scheme (NPS) cannot be given to the state governments for old pension (OPS).

In a post-budget discussion at a hotel in Jaipur, Sitharaman said that if a state government has decided to restore old pension thinking that it will get NPS money from the Centre, Rajasthan government is demanding transfer of money . , then it will not be found. Let us tell you that the Old Pension Scheme has been implemented in Rajasthan from April 1, 2022. Only after that the Congress government of the state is demanding to transfer the money deducted under the New Pension Scheme (NPS).

The money will be given to the employees only.

After this, the old pension scheme was implemented by the Himachal government on the lines of Rajasthan. The Finance Minister clarified that the money deducted from the salary under NPS belongs to the employees. This will be given to them at the time of retirement or when the employee needs this money, it will be given to them. The money collected will not be given in the hands of the state governments. When the right time comes, then it will be given to the employees.

Finance Minister spoke on free schemes

In response to the question of free schemes given by the state government, Sitharaman said, ‘When the financial condition of the government is good, you run such schemes. Make provision for them in your budget. If the economic condition of your state is not good, then you are not making provision in the budget, for that you are taking loan. This is not correct. Who will give this money?’

He said, to bring such schemes, the states should raise money from their own resources, should earn from tax. States are passing their burden on someone else to run free schemes… This is totally wrong.

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Now only 2 days are left for the month of October to pass. In such a situation, RBI has updated the list of banking holidays falling in the month of November. This month i.e. October had a banking holiday of 21 days out of 31 days. Similarly, in November also there will be a total banking holiday of 10 days.

On which day the bank will be closed in November

There will be a total bank holiday of 10 days in the month of November. These banking holidays are every Sunday as well as second and fourth Saturday. The first holiday in November is falling on the 1st. There will be a holiday in the banks of Bangalore and Imphal Zone on the occasion of Kannada Rajyotsava / Kuti on 1st. After this, banks across the country will remain closed on Sunday, November 6.

Bank will remain closed even on these days

After this the next banking holiday will fall on 8th. Banks will remain closed on November 8, except Agartala, Ahmedabad, Bengaluru, Chennai, Gangtok, Guwahati, Imphal, Kochi, Panaji, Patna, Shillong, and Thiruvananthapuram, on the occasion of Guru Nanak Jayanti/Kartika Purnima. Banks in Bengaluru and Imphal will remain closed on 11th on the occasion of Kanakdas Jayanti / Vangla Mahotsav.

Then on the 13th, on the second Saturday, there will be no work in banks across the country. Sunday is Sunday on 20 November, banks of all zones will remain closed on that day. On November 23, on the occasion of Seng Kutsnem, there will be a holiday in the banks of Shillong Zone. November 26 is the fourth Saturday and Sunday is Sunday, on that day, banks across the country will remain closed.

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