New Financial Year New Rules: UPI, Bank Balance, and Tax Changes from April 1″
New Financial Year New Rules Stay updated on the latest financial changes effective from April 1, including UPI rule changes, revised bank minimum balances, and new tax rules for FY26.
With the start of the New Financial Year New Rules 2025-26 (FY26) on April 1, several significant financial adjustments will take effect, impacting individuals, businesses, and taxpayers across India. Among the most notable are changes to UPI rules, new income tax slabs, and revised minimum bank balance requirements.
1. New Financial Year New Rules UPI Rule Change
New Financial Year New Rules The National Payments Corporation of India (NPCI) has introduced updated security measures for Unified Payments Interface (UPI) transactions. Starting April 1, UPI accounts linked to inactive mobile numbers will be deactivated to enhance security. Users who haven’t used their registered number for a prolonged period must update their details with their banks to avoid losing access to UPI services.
This move is intended to mitigate fraud risks, and major UPI providers like PhonePe, Google Pay, and Paytm will comply with these rules.
2. New Financial Year New Rules Minimum Bank Balance Requirement
Leading banks such as State Bank of India (SBI), Punjab National Bank (PNB), and Canara Bank will revise their minimum balance requirements. Failure to maintain the new prescribed balance will result in penalty charges. Customers are advised to check with their respective banks for the updated balance limits and associated fees.
3.New Financial Year New Rules New Income Tax Rules
Finance Minister Nirmala Sitharaman announced revised income tax slabs in the Budget 2025. Under the new regime, individuals earning up to Rs 12 lakh per annum will be exempt from paying income tax. A standard deduction of Rs 75,000 will apply to salaried employees, making a salary of up to Rs 12.75 lakh effectively tax-free.
4.New Financial Year New Rules Pension Scheme Changes
The Unified Pension Scheme (UPS), replacing the older pension system, will become effective from April 1. Approximately 23 lakh central government employees will be impacted by this transition. Employees with a minimum of 25 years of service will now receive a pension amounting to 50% of their average basic salary over the last 12 months.
5. Credit Card Rewards Revisions
Major banks have revised their credit card rewards programs. SBI will modify the reward structure for its SimplyCLICK and Air India Platinum Credit Cards. Additionally, Axis Bank will update the benefits on its Vistara Credit Card following Vistara’s merger with Air India.
6. GST Rule Changes
From April 1, taxpayers using the GST portal will need to complete multi-factor authentication (MFA) for added security. Furthermore, e-way bills can only be generated for base documents not older than 180 days.
New Financial Year New Rules Stay updated on the latest financial changes effective from April 1, including UPI rule changes, revised bank minimum balances, and new tax rules for FY26.
