After May ends, June has started. This time June is starting with many big changes. The effect of these changes happening on 1st June will be on your pocket. From this day everything will change from rations to gas cylinders and from insurance to home loan. In such a situation, it is important for you to be aware of these changes.
Oil companies have reduced the rates of commercial LPG cylinders. According to the price released by Indian Oil on June 1, the price of commercial cylinders has come down by Rs 135. Now in Delhi it will be available for Rs 2219 instead of 2354. On May 1, the price had increased by about Rs 100.
After 7 years, an increase in the premium of Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) has been announced by the Central Government. This change has come into effect from June 1. Under PMJJBY, the beneficiary gets a cover of Rs 2 lakh. Earlier, Rs 330 was charged for this insurance scheme of the central government. But now its premium has been increased by Rs 1.25 per day. Now for this, an annual premium of Rs 436 will have to be paid.
Apart from the Pradhan Mantri Jeevan Jyoti Bima Yojana, the government has also increased the premium of Pradhan Mantri Suraksha Bima Yojana (PMSBY). Earlier, 12 rupees had to be paid annually for this. But now from June 1, this premium has increased to Rs 20.
The External Benchmark Lending Rate (EBLR) has been increased by the largest public sector bank State Bank of India (SBI). The new rates have come into effect from June 1. Earlier this rate was 6.65 percent but with an increase of 40 basis points, it has now increased to 7.05 percent. Apart from this, the repo-linked lending rate for home loans has also increased by 40 basis points to 6.65 percent. This will affect your EMI.
Axis Bank has increased the limit of average monthly balance from 15 thousand to 25 thousand rupees for the account holders of rural and urban areas. Axis Bank has changed the tariff structure for Savings/Salary Account with effect from June 1, 2022. Penalty for not having auto-debit access has also increased as compared to earlier. Also, if the minimum balance is not maintained, now more service charge will have to be paid.
The second phase of gold hallmarking has been implemented from June 1. With this change, hallmarking centers will start in the old 256 districts and 32 other districts. Now from June 1, hallmarking will become necessary in 288 districts, new and old. Jewelers will no longer be able to sell jewelry without hallmarking. In such a situation, customers are also advised not to buy jewelry without hallmarking. According to the hallmarking standard, 14, 18, 20, 22, 23 and 24-carat jewelry will be sold from June 1.
Under the PM Garib Kalyan Anna Yojana, the quota of free wheat available in many states of the country has been reduced. In UP, Bihar and Kerala from June 1, now instead of 3 kg of wheat and 2 kg of rice, only 5 kg of rice will be available. This decision has been taken due to less procurement of wheat. Some states will continue to get wheat as before and there will be no effect on ration distribution here.
The Ministry of Road, Transport and Highways has increased the premium of motor insurance from June 1. Now insurance premium will have to be paid for different vehicles according to the engine capacity. This will affect both two-wheel and four-wheel vehicles. The insurance premium for cars with 1000 cc engine capacity will be Rs 2,094. At the same time, the insurance premium of 1000 to 1500 cc car will be Rs 3416.
The insurance of two-wheelers has also become expensive from June 1 due to the notification issued by the government. From June 1, third party insurance premium of Rs 538 for two-wheeler with less than 75 cc capacity, Rs 714 for 75 to 150 cc, Rs 1366 for 150 to 350 cc two-wheeler and Rs 2804 for above capacity Have to give
India Post Payment Bank has also made Aadhaar Based Payment Service (AePS) chargeable. However, this rule is to be implemented from June 15. From June 15, the first three transactions per month will be free under Aadhaar Enabled Payment System Service Charges. This includes cash withdrawal, cash deposit, and mini statement withdrawal. After withdrawing and depositing cash after the free limit, you will have to pay Rs 20 for every transaction. At the same time, the charge of a mini statement is Rs 15.