The banking sector in India continues to face new rules and changes from time to time, so that customers experience improving their services. From 11 February 2025, four new rules are going to be implemented on account holders of big banks like State Bank of India (SBI), Punjab National Bank (PNB), and Canara Bank. The purpose of these changes is to provide better services to customers and promote digital banking. If you are also customers of these banks, then it is very important for you to know these rules so that you can avoid any discomfort.
In this article, we will give you complete information about these four new rules. Also, we will also explain how these changes will affect your banking experience. Let’s know in detail about these important changes.
What are these 4 new rules? (New banking rules)
These four new rules, which come into force from 11 February 2025, mainly include digital banking, transactions process, and changes related to the safety of accounts. These four major changes are given below:
1. New limits of minimum balance (minimum balance)
Now customers have to follow the new limit to maintain minimum balance in their account.
- In urban areas: ₹ 10,000
- In rural areas: ₹ 5,000
If this limit is not followed, a penalty charge will be levied. This step has been taken to maintain the financial stability of banks.
2. Changes in ATM Transaction Limit
Customers have now reduced the number of free ATM transactions:
- Metro cities: 3 free transactions
- In non-metro cities: 5 free transactions
After this, a fee of ₹ 20 will be charged on every additional transaction.
3. Checkbook Fee (Cheque Book Charges)
Now the fee has been increased on issuing checkbooks.
- First checkbook (20 pages): free
- Additional checkbook: ₹ 50 per checkbook
This step has been taken to promote digital payment.
4. Special discounts on digital transactions
To encourage digital payment, banks have decided to give discounts on online transactions.
- UPI and NEFT Transaction: No Fee
- RTGS Transaction: ₹ 2 discount
Purpose of New Banking Rules
The main objective of these four new rules is to provide better services to customers and promote digital banking. Also, these steps have been taken to reduce the operational costs of banks and provide more secure and transparent services to customers.
Brief details of rules
| Rule | Description |
| Minimum balance limit | Urban: ₹ 10,000, Rural: ₹ 5,000 |
| ATM Transaction Limit | Metro: 3 Free, Non-Metro: 5 Free |
| Checkbook fees | First checkbook free, ₹ 50 on extra |
| Digital transactions discount | UPI/NEFT free, ₹ 2 discount on RTGS |
Effect of these changes on customers
Positive effect
- Promotion of digital banking: Customers will be attracted to online transactions due to discounts on digital payments.
- Safety improvement: The minimum balance limit and ATM transaction limit will reduce fraud cases.
- Better services: The financial position of banks will be strengthened which will provide better facilities to customers.
Negative effects
- Effect on rural customers: Increased minimum balance limit may increase economic pressure on customers in rural areas.
- ATM fee hike: Customers will have to spend more due to fees on additional ATM transactions.
How to prepare? (How to prepare for these changes)
You can take the following steps to ensure following these rules:
- Always maintain minimum balance in your account.
- Use more digital payments such as UPI and NEFT.
- Limit the number of ATM transactions.
- If the checkbook is required, order in advance.
Frequently asked questions (FAQs)
1. Will these rules apply to all banks?
No, these rules will currently be applicable to big banks like SBI, PNB, and Canara Bank.
2. Will digital payments be completely free?
The UPI and NEFT transactions will be completely free but the RTGS will incur minor fees.
3. How much penalty will not be imposed for not keeping a minimum balance?
This fine will depend on the type of bank and account but an average can range from ₹ 10 to ₹ 50.
Conclusion
These four new rules, which come into force from 11 February 2025, are going to bring a big change in the Indian banking sector. While on the one hand these changes will encourage digital banking, on the other hand customers will have to make some changes in their financial planning.
Disclaimer:
This article is written only for the purpose of providing information. These rules have not yet been officially confirmed. Please contact your respective bank or go to their official website and get information.
