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

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

If you do online transactions then there is good news for you. From tomorrow, i.e. from 1st February, you can transfer up to Rs 5 lakh through IMPS without linking 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 advent of this online bank account transfer system, transferring money online became much faster as compared to transfers like RTGS.

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

The Pension Fund Regulatory and Development Authority (PFRDA) 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 percent of the deposited amount, excluding employer contribution.

There will be changes 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 regarding the budget, common people are hopeful that the government can provide relief in the prices of petrol and diesel and LPG.