Mumbai. From June 1, many changes are going to take place across the country that will have a direct impact on your pocket and daily life. We are telling you about 6 such changes that will affect you.
Third party insurance of vehicles to be expensive
From June 1, third party insurance of two wheelers and four wheelers along with other large vehicles is going to be expensive. That is, now you have to pay a higher premium for third party insurance. In case of two wheelers, the premium for vehicles between 150 cc to 350 cc will be Rs 1,366, while for vehicles above 350 cc the premium will be Rs 2,804.
In total there are four Sundays and two Saturdays in June. Since banks are closed on 2nd and 4th Saturdays, only 6 holidays will be available on Sundays and Saturdays. This month, 5th June will be Sunday, 11th June will be second Saturday, 12th June will be Sunday, 19th June will be again Sunday, 25th June will be fourth Saturday and 26th June will be Sunday.
Home loan from SBI to also getting expensive
State Bank of India (SBI) has increased its home loan external benchmark lending rate (EBLR) by 40 basis points to 7.05%, while the RLLR will be 6.65% plus credit risk premium (CRP). The increased interest rates will be effective from June 1. This will increase the home loan interest rates. Earlier the EBLR was 6.65%, while the repo-linked lending rate (RLLR) was 6.25%.
Phase II of Gold Hallmarking
The second phase of hallmarking of gold will begin. Now apart from 256 old districts, hallmarking centers will be opened in 32 new districts. Now hallmarking of gold ornaments will become mandatory in all these 288 districts. Now only 14, 18, 20, 22, 23 and 24-carat jewelry can be sold in these districts. These will also be able to sell only after hallmarking.
Changes in Axis Bank Savings Account Rules
Axis Bank has decided to increase the service charge on the savings account. From June 1, the limit for maintaining minimum balance in savings account has been increased. Under this, customers in semi-urban and rural areas will have to keep a minimum of Rs 25,000 instead of 15,000 or a term deposit of Rs 1 lakh in all types of savings accounts of Axis Bank.
Transaction fees in India Post Payments Bank
Transacting through India Post Payments Bank (IPPB) will also become costlier from the month of June. IPPB has decided to levy a cash transaction fee from June 15. Under the new rules, there will be no charge for the first three cash withdrawals, cash deposits and mini statements taken every month. Every cash withdrawal or cash deposit after a free transaction will attract Rs 20 plus GST, while a mini statement transaction will attract Rs 5 plus GST.
Gas cylinder prices will change
Let us tell you that the government oil companies of the country fix the prices of LPG cylinders on the first of every month. Prices may also increase and relief may also be available. In such a situation, there may be a change in the prices of cylinders on June 1. Earlier on May 1, the 19 kg commercial LPG cylinder became costlier by Rs 102.