IMPS Transfer Limit Increased to Rs 5 Lakh Without Adding Beneficiary From Feburary 1 LPG Rates NPS Withdrawal More Details

From the first of February, some big changes are going to happen for the citizens, one of which is related to IMPS. The interim budget is going to be presented on February 1, with which your IMPS limit is also going to increase. Yes, tomorrow, i.e. from the first of February, you will be able to transfer more money to an account through IMPS than before. Along with this, some other changes are also going to happen, such as changes related to NPS withdrawal and changes in the prices of petrol-diesel, LPG.

If you do online transactions then there is good news for you. From tomorrow, i.e. February 1, you can transfer up to Rs 5 lakh through IMPS without adding the beneficiary account in your bank’s app. NPCI had given this information by issuing a circular on October 31, in which it was said that these rules related to IMPS will come into effect from February 1, 2024.

Let us tell you that IMPS is a 24×7 quick fund transfer system, which is designed for domestic transactions. After the introduction of this online bank account transfer system, transferring money online became much faster than transfers like RTGS.

Apart from this, the National Highway Authority of India (NHAI) has announced to blacklist or deactivate Fastag without KYC. In such a situation, if you have not updated the KYC of your Fastag yet, then you should get this work done immediately. If you do not do KYC, you will have to pay double the toll tax from February 1.

The Pension Fund Regulatory and Development Authority (PFRDA) had issued a circular on January 12, 2024, announcing changes in the rules related to the National Pension System. Under this, from February 1, NPS account holders will be allowed to withdraw only 25 per cent of the deposited amount excluding the employer contribution.

There will be a change in the prices of petrol, diesel and LPG cylinders from February 1. For a long time, oil companies had not made any change in the prices of petrol and diesel at the national level. This time the common people have expectations from the budget that the government can give relief in the prices of LPG including petrol and diesel.