Several important changes will come into effect from May 1, 2025, which could directly impact your daily life and expenses.
These changes are related to banking services, ATM charges, railway ticket bookings, LPG prices, and interest rates on savings and FDs.
Knowing these updates in advance will help you avoid inconvenience and manage your budget better.
1. ATM Withdrawals Will Become Costlier
From May 1, withdrawing cash from ATMs beyond the free limit will cost more. The fee per extra transaction will increase from ₹17 to ₹19.
Even checking your balance at the ATM will now cost ₹7 instead of ₹6. So, if you use ATMs frequently, this could lead to higher expenses.
2. Big Changes in Railway Ticket Booking
Indian Railways is changing its booking rules. From May 1, passengers with waiting tickets will not be allowed to travel in sleeper or AC coaches.
Only general coaches will permit travel with waiting tickets. Also, the advance booking period is being reduced from 120 days to 60 days.
Ticket fares and refund charges may also rise, making travel more expensive.
3. Merger of Regional Rural Banks in 11 States
Under the “One State, One RRB” scheme, regional rural banks (RRBs) in 11 states will be merged to form a single larger bank per state.
This aims to improve banking services and make operations smoother.
This will happen in Andhra Pradesh, Uttar Pradesh, West Bengal, Bihar, Gujarat, Jammu & Kashmir, Karnataka, Madhya Pradesh, Maharashtra, Odisha, and Rajasthan.
4. Possible Changes in LPG Cylinder Prices
LPG prices are reviewed on the 1st of every month, so a change in price may be announced on May 1.
If prices rise again, it could affect your kitchen budget. In April, the price of all types of gas cylinders was increased by ₹50.
5. Changes in FD and Savings Account Interest Rates
Interest rates on fixed deposits and savings accounts may change again.
After the RBI cut the repo rate twice recently, many banks have already reduced interest rates.
Further changes could happen in May, affecting the returns on your savings and FDs.
