From IMPS transaction charges, LPG to bank balance: Major rules changing from tomorrow, 1 February 2022

New Delhi: Several rules pertaining to banking, financial and other sectors are changing from February 1.  Since these new rules are set to impact the day-to-day lives of a common man and hence it is important to know more about these changes in detail.

Check here key changes that would impact your everyday life from February 1, 2022

SBI IMPS transaction Charges

India's largest lender State Bank of India (SBI) has increased the limit for money transaction via Immediate Payment Service (IMPS) from Rs 2 lakh to Rs 5 lakh, however the sad news for customers is that the bank will charge you for it. The SBI website reads that the bank will charge you Rs 20 + GST, for IMPS transactions between Rs 2 lakh and Rs 5 lakh. The charges will be effective from February 1, 2022. The charges for remitting money thorugh IMPS using SBI Anywhere Personal below Rs 2 lakh is however Nil.

LPG PRICES

Oil marketing companies revise the prices of LPG on the first day of every month depending on the crude rates in the international markets. You can check for the new prices before booking a gas cylinder for this month.

Bank of Baroda Positive Pay

Bank of Baroda is going to make changes in its cheque payment rules from February 1, 2022. It will be mandatory for BoB Customers to make Positive pay confirmation for payments made via cheques above Rs 10 lakh.

Punjab National Bank Minimum Balance

Punjab National Bank (PNB) will levy a penalty of Rs 250 in case of failure in payment of EMI or other installment due to lack of money in your account. The penalty for the same was previously Rs 100.