The new financial year 2025-26 is going to be implemented in the country from April. Also, some new banking rules are being implemented in the country from the first of April. This may affect the pocket of the consumer. For example, many banks are going to change the interest rates of savings account and fixed deposit (FD). Now interest rates will be decided on the basis of the amount deposited in the account. Customers keeping a larger amount are likely to get more interest.
Credit card related changes
SBI, IDFC First Bank are changing their credit card policies. SBI Card reward points are going to decrease on certain transactions. SimplyCLICK SBI cardholders will now get 5X reward points on Swiggy. Earlier it was 10X. In case of Air India SBI Credit Card, Air India SBI Platinum Credit Card will now offer 5 reward points for every Rs 100 spent on Air India ticket bookings. Currently, 15 reward points are given. Similarly, Air India SBI Signature Credit Card users will get 10 points for every Rs 100 spent, whereas currently they get 30.
Talking about IDFC First Bank credit cards, milestone rewards will stop for Club Vistara credit card holders from March 31. Club Vistara Silver membership will no longer be available. Also, complimentary vouchers such as premium economy tickets and class upgrade vouchers will also be discontinued. For customers renewing their credit cards from March 31, the bank will waive the annual fee for one year. But major travel benefits will not be available.
New rule for urban cooperative banks
From April 1, urban cooperative banks will have to allocate 60 percent of their loans to priority sectors. Also, more women will be eligible for loans.
