Host of changes impacting various aspects of financial transactions and services, have been introduced with effect from 1st April 2025. The guidelines aim to reduce transaction errors, enhance security, and improve the overall UPI experience. Here are the key changes:

1. ATM Cash Withdrawal : Now, bank customers will be allowed to withdraw money from another bank's ATM only three times in a month for free. After three transactions, Rs.20 -25 fee will be levied on every additional transaction. Earlier, many banks used to provide the facility of withdrawing money five times for free.

 2.Minimum Balance Rules (MAB): Several major banks including State Bank of India (SBI), Punjab National Bank (PNB) and Canara Bank have introduced new minimum balance conditions. Customers will now have to maintain different minimum balances depending on whether their account has been opened in urban, semi-urban or rural areas. There will be a penalty for not maintaining the fixed minimum balance, and the amount is likely to vary based on the bank and the type of account.

3. Positive Pay System (PPS): For cheque payments exceeding Rs 50,000, customers will now have to verify the cheque number, date, beneficiary name and amount before the payment is processed, mandatorily and electronically, for enhanced security.

4.Digital Banking Services : Banks are now launching new online services and AI-powered chatbots to make digital banking more secure and convenient. Apart from this, a two-factor authentication and biometric verification will be strengthened to safeguard digital transactions.

5.Changes In Savings Account And FD Interest Rates : Several banks have announced changes or making adjustments in the interest rates of savings account and fixed deposits (FD). Now, interest rates will be determined based on the amount deposited in the account. This is likely to offer higher interest and returns for customers maintaining larger account balance.

6. Credit Card Changes:  Some banks either revised their reward points and benefits or reduced or discontinued the rewards, such as SBI's Sbiggy rewards, IDFC First Bank's Club Vistara milestone benefits,Axis Bank's Vistara Credit Card with effect from April 18, 2025.

7. UPI and Payment Changes : Inactive UPI IDs linked to unused mobile numbers will be deactivated, requiring users to update their mobile numbers. Also enhanced UPI Security measures have been introduced to flag suspicious activity and prevent fraud. Also Banks and Payment Service Providers (PSPs) are asked to update mobile number records every week.