FM Nirmala Sitharaman: '7 IITs, 16 IIITs, 7 IIMs, 15 AIIMS and 390 Universities have been set up'

A quiet financial reset is underway in India from April 1, and it will directly impact how you pay, travel, save and spend. New rules across UPI, ATM withdrawals, PAN usage, FASTag fees and railway refunds are coming into force. The focus is clear — tighter compliance and better tracking. Two-factor authentication is now mandatory for digital payments, making transactions safer but slightly slower. PAN is becoming essential for more financial activities, including credit cards. ATM usage limits are being tightened, and charges are increasing beyond thresholds. FASTag fees have been revised, while railway refund rules are stricter than before. On the positive side, loans against silver are now allowed, increasing access to credit. Labour code changes could also impact take-home salaries. From India’s perspective, the system is becoming more structured and transparent. But for users, it means adapting quickly to a more controlled financial environment.