From FASTag rules, LPG prices to banking charges: Union Budget brings major nationwide changes

Several significant changes were announced in India on Sunday, affecting everything from FASTag usage and banking charges to LPG cylinder prices and fuel rates.

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These updates include both financial and administrative reforms that are expected to have a direct impact on household budgets and everyday transactions.

From banking and taxation to fuel and digital payments, multiple rules have been revised. Changes in tax-related norms, cigarette and tobacco sales, gas cylinder pricing, FASTag regulations, and credit card usage are among the key highlights. These reforms are likely to influence personal income, monthly household expenses, and overall spending patterns.

One major relief for vehicle owners is the change in FASTag rules. The National Highways Authority of India (NHAI) has discontinued the mandatory post-issuance KYC verification process for private vehicles. Newly activated FASTags will no longer require additional KYC verification, helping reduce unnecessary delays at toll plazas.

In the banking sector, State Bank of India (SBI) has revised its IMPS (Immediate Payment Service) transaction charges, with new rates taking effect from February 15. The charges for IMPS transactions have been increased marginally.

On the fuel front, oil marketing companies have revised prices as part of their monthly review. Commercial LPG cylinder prices have increased by Rs 49, while the domestic LPG cylinder prices remain unchanged.

Additionally, there could bechanges in CNG, PNG, and aviation turbine fuel (ATF) prices. Revision in ATF rates may make air travel cheaper.

Besides, as per the RBI holiday calendar, banks will remain closed for 10 days in February, prompting customers to plan essential banking work in advance.