From June 1, these 10 big changes including banking, insurance, LPG price will affect your pocket

From June 1, the rules of many schemes like insurance, banking, PF, LPG cylinder price, ITR filing, gold hallmarking, interest on small savings are changing. Some changes will happen from June 1 and some from June 15. These will have a direct impact on your pocket. Let’s find out what are the changes that can affect your life.

Premium rates of PMJJBY and PMSBY increased

The Central Government has increased the premium of Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY). The premium rate of Pradhan Mantri Jeevan Jyoti Bima Yojana has increased from Rs 330 to Rs 436 per annum. According to the central government, the annual premium for the Pradhan Mantri Suraksha Bima Yojana has been increased from Rs 12 to Rs 20. These new premium rates have come into effect from June 1, 2022.

From June 1, jewelers will not be able to turn away by saying that they are not ours

Now the jeweler will not be able to back down saying these ornaments are not from our place. They will have to give complete information about the sale of jewelery on the Hallmark Unique Identification (HUID) portal. Under the new system, the name, weight and price of the jewelry maker to the jeweler and the buyer will have to be entered on the portal.

Inflation is going to hit the pockets of the vehicle owners. The central government has increased the rates of third party motor insurance premium for various categories of vehicles. The Ministry of Road and Transport has issued a notification in this regard.

Axis Bank hikes service charges

There is important news for the customers of Axis Bank. Axis Bank has announced an increase in service charges on salary and savings accounts from June 1. The bank has increased the minimum balance limit in the savings account from next month. Apart from this, the bank has also increased the monthly service charge for non-maintenance of minimum balance.

Delay in GST return will not attract fee till June

The government has waived off late fee for two months till June for delay in filing of Goods and Services Tax (GST) returns for the financial year 2021-22 by small taxpayers registered under the composition scheme. The Central Board of Indirect Taxes and Customs (CBIC) in a notification on Thursday said that late fee will not be levied from May 1 to June 30, 2022 for delay in filing of GSTR-4 for the financial year 2021-22.

PF new rules

If you are employed then this news is very useful for you. EPFO has changed the rules for Provident Fund account holders. According to the new rule, now the employer is required to link the account of every employee with the Aadhar card from June 1.

Taking home loan from SBI will be expensive

State Bank of India (SBI) has increased its home loan external benchmark lending rate 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%.

Lpg cylinder cheap

There has also been a big change in the prices of LPG from the new month i.e. today. Oil companies announce LPG cylinders every month. At present, the price of 14.2 kg gas cylinder in Delhi is Rs 809 and as the prices of petrol and diesel are rising. In such a situation, there has been no change in the rate of domestic cylinder from today, while the commercial cylinder has become cheaper by Rs 135.

Air travel will be expensive

Air travel can be expensive from June 1. The Central Government has approved to increase the minimum ceiling of airfares by 16 percent. The ceiling on airfares has been increased from 13 to 16 per cent. This increase will be applicable from June 1. The Ministry of Civil Aviation has said in an order that there is no increase in the upper limit of the fare. Let us tell you that international flights will be suspended on June 30.

Change in interest rates of small savings scheme

In March, the interest rates of government schemes like PPF, NSC, Sukanya Samriddhi Yojana were changed, but then the government withdrew it as a mistake. Then the decision of the government was seen by linking it with the election. This can also be changed on 1 June. However, the new rates are applicable till June 30.

Bank Of Baroda Payment Process

Bank of Baroda is going to make major changes in the rules of check payment from June 1. The bank is implementing ‘Positive Pay Confirmation’ from today. However, while giving convenience to the customers, the bank has said that the rule of ‘positive pay confirmation’ will be applicable only on payment above 50 thousand. According to the information given on the bank’s website, from now onwards, the issuer of the check will have to give the information of the beneficiaries in advance. The bank believes that this will take less time on the one hand. On the other hand, check fraud can also be avoided.