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ATM Withdrawal Fees Climb
Starting May 1, 2025, the Reserve Bank of India has increased ATM transaction fees for exceeding free withdrawal limits. The charge for additional transactions, both financial and non-financial, rises from ₹21 to ₹23. Metro city customers get three free transactions at their bank’s ATMs, while non-metro users enjoy five. This hike, aimed at covering rising operational costs, will push consumers to plan withdrawals carefully or lean on digital payment options like UPI to avoid extra charges.
Railway Ticket Booking Revised
Indian Railways has introduced new booking rules effective May 1, 2025. The advance reservation period for certain trains has been adjusted, and cancellation fees have increased by 10% to discourage last-minute changes. Additionally, online ticket platforms now mandate stricter identity verification to curb touting. These changes aim to streamline ticketing but may require passengers to plan travel earlier and verify accounts promptly to avoid booking hurdles.
Amul Milk Prices Rise
Amul, India’s leading dairy brand, has raised milk prices by ₹2 per litre across all variants, including Amul Gold, Taaza, and Buffalo Milk, effective May 1, 2025. This follows a similar hike by Mother Dairy, driven by soaring animal feed costs and production expenses. The increase, impacting household budgets, reflects a 3-4% rise in retail prices, still below food inflation rates, as Amul seeks to balance farmer support and consumer affordability.
UPI and LPG Updates
The National Payments Corporation of India has capped daily UPI transactions at ₹1 lakh, with a 1.1% fee on merchant payments above ₹2,000. Meanwhile, LPG cylinder prices for commercial and domestic use may see adjustments, as oil companies review rates monthly. These changes, alongside revised bank locker agreements and tweaked NEFT/RTGS timings, signal a broader financial overhaul, urging consumers to stay informed and adapt to the evolving economic landscape.
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