Fees for banking services are constantly being raised or new charges are being introduced. Now, in the coming year, many banks and wallet apps are also planning to limit their services and increase fees.
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Banking system: Fees for bank-related services are constantly being raised or new charges are being introduced. This year, banks have increased their fees for services ranging from ATM withdrawals, credit cards, and checkbook issuance. Additionally, many services have been discontinued or limited. Now, in the coming year, many banks and wallet apps are also planning to limit their services and increase fees.
ICICI Bank is set to increase the cost of several of its services in the coming year. From January 15, 2026, a two percent fee will be levied on transactions made using credit cards on gaming platforms. Similarly, a one percent fee will be charged for sending funds exceeding five thousand rupees to third-party wallet apps like Amazon, Paytm, and Mobikwik.
An additional fee of ₹150 will be charged if you pay your credit card bill in cash at a bank branch, up from ₹100 previously. The free movie benefits offered by the bank through BookMyShow on its Instant Platinum card will be discontinued from February 1, 2026.
Also, spending criteria have been set for movie offers on other card categories. A minimum of ₹25,000 must be spent in the previous quarter to qualify for the free movie.
Reward points will only be earned on credit cards like Rubix and Sapphiro if you spend ₹20,000 per month. Whereas the limit for transport expenses on Platinum and Coral category cards has been fixed at Rs 10,000 per month.
Airtel to Charge Annual Fees on Wallets
Airtel Payments Bank has decided to charge an annual maintenance fee (AMC) of ₹75 per year (excluding GST) on its wallets, effective January 1st. Airtel stated that if there is insufficient balance at the time of charging, the available balance will be debited. The remaining balance will be automatically deducted upon the next deposit.
First, a free service, then charges continued
Oxygen Wallet was first introduced in India in 2004 for storing money digitally on mobile phones. However, the real transformation in the wallet sector began in 2010 with the launch of Paytm. Subsequently, numerous companies entered the market to facilitate digital transactions through wallet apps.
Initially, most companies offered free services, but now, starting in February 2021, MobiKwik has started charging maintenance fees on inactive wallets. Similarly, other wallet companies have decided to charge ₹15 plus GST for KVEC.
Penalty for Non-Complete KYC
In addition, a penalty of Rs. 5 per quarter has been imposed on customers who fail to comply with KYC. Similarly, a 1.5% service charge is now levied on wallet deposits made using credit and debit cards. However, many wallet apps have not yet imposed these charges.
All Regional Rural Banks to Have a Single Logo
Following the integration of Regional Rural Banks at the state level, the government has now released a new logo for them. The Finance Ministry announced on Thursday that this logo, released in collaboration with the National Bank for Agriculture and Rural Development, will establish a unified brand identity for all 28 Regional Rural Banks operating in the country. The logo features a flame composed of three layers.
This flame signifies warmth, knowledge, and empowerment of the rural population. The flame is moving upward, symbolizing progress and represents development, growth, and progress in rural economies. It also depicts a hand, symbolizing protection and nourishment.
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