Rules Change: From train tickets to withdrawing money from ATM, Many changes to come into effect from May 1

New Delhi| There are going to be some financial changes from May 1 which can have a direct impact on you. These changes include excessive withdrawal from ATMs, ticket booking from Railways and changes in FD interest rates etc. Besides, RBI has also released the list of bank holidays in May.

Higher charges will be levied for withdrawing money from ATM
Metro cities will be able to transact with ATMs for free 3 times every month. Will be able to transact five times in non-metro cities. Banks can charge up to Rs 23 on every transaction after the free limit. If a customer checks the account balance at an ATM, he may have to pay a charge of Rs 7, which was earlier Rs 6.

Waiting tickets in Railways are valid only in general coaches
Changes are being made in the rules of railway ticket booking. Now waiting ticket will be valid only in general coach. Meaning you cannot travel in a sleeper coach with a waiting ticket. If you are found traveling, TT may send you to a normal coach or impose a fine.

RRBs will decrease from 43 to 28
It has been decided to merge Regional Rural Banks (RRBs) across the country. There will now be a reduction from 43 to 28 RRBs. It has been decided to implement One State One RRB from May 1.

Interest rates on FD started decreasing
After RBI’s 0.25 percent cut in repo rate, now banks have also started reducing interest rates on FD. Most banks have decided to close high interest rate FDs from May 1.

Banks will remain closed for 12 days
RBI has released the list of bank holidays in May. Banks will remain closed on different occasions in different states except the second and fourth Saturdays and Sundays. These include festivals like Buddha Purnima and Maharana Pratap Jayanti, which will be celebrated in different states. In such a situation, be sure to check the holidays before going to the bank.

Amul increased milk prices
Amul has announced to increase the prices of milk. The new rates of Amul’s milk products will be effective from May 1. Amul said that a decision has been taken to increase the price of milk by Rs 2 per liter across the country.