From SBI IMPS transaction charges to LPG gas cylinders: Check major rules that will change from today

Come February 1, 2022, many rules are going to change which will have a direct impact on your life because these changes in rules are linked with banking, financial and other sectors. 

 

From new SBI IMPS transaction charges to changes in LPG cylinder prices, it is important to know these fresh guidelines.

 

These are the 5 major rule changes that will affect the common man starting February 2022 

 

Increased limit on SBI IMPS transaction charges

 

The State Bank of India (SBI), from February 1, has increased the limit from Rs 2 lakh to Rs 5 lakh for money transactions via Immediate Payment Service (IMPS). The bank will however levy a fee for the same. 

 

1. SBI IMPS transactions between Rs 2 lakh to Rs 5 lakh - Rs 20 + GST
2. SBI IMPS transactions below Rs 2 lakh - fee is nil. 

 

The minimum Balance rule change in Punjab National Bank (PNB)

 

From today (February 1), Punjab National Bank (PNB) is all set to charge Rs 250 fine if EMIs or other installments are not settled in time due to a lack of money in the account. The penalty amount has changed from Rs 100 to Rs 250. 

 

Bank of Baroda Positive Pay 

 

Introducing changes to its cheque payment rules from February 1, 2022, the Bank of Baroda will make Positive pay confirmation for payments made via cheques mandatory. This will only apply to cheque transactions over Rs 10 lakh. 

 

Change in LPG Price 

 

The price of LPG gas may also change from February 2022. There is a possibility that once again LPG prices may see a change depending on the price of crude in the international market. An announcement about the same is expected soon.

 

Notably, on February 1, Finance Minister Nirmala Sitharaman is also all set to present the Union Budget 2022 in the parliament.