June Rule Change: Today from June 1, some economic changes are being implemented, about which it is important for you to know. This is because these steps are going to directly affect your household budget.
Rule change from today 1 June 2022: The month of June has started today and the sound of the monsoon is heard in many parts of the country this month. Year this month is also bringing many changes on the economic front, about which it is important for you to know. Implementing these changes will change the way many of your finances work. Here we are telling you about 5 such economic changes that matter in your life.
Know here about the 5 big new changes starting from June-
1. Third Party Motor Insurance Premium Expensive
From today onwards, the premium of third-party motor insurance is going to be more expensive for you because the government has increased the premium of third-party motor vehicle insurance for various categories of vehicles. The premium for private cars with 1000 cc engines will now be Rs 2094 as opposed to Rs 2072. The premium for private cars with 1000 to 1500 cc engines has been reduced to Rs 3416 from Rs 3221. However, minor changes have been made to it. Reduction in third-party insurance premium for private cars above 1500 cc and it will come down from Rs 7897 to Rs 7890. Similarly, the premium for two-wheelers ranging from 150 to 350 cc will be Rs 1366. While premium cc for two-wheelers above 350, this rate will be Rs 2804.
2. SBI Home Loan EMI Increases Starting Today
The country’s largest public sector bank State Bank of India (SBI) is going to make the home loan EMI expensive from today. SBI has increased its home loan-linked external benchmark lending rate (EBLR) by 40 basis points to 7.05 percent, while the repo-linked lending rate (RLLR) will be 6.65 percent + CRP. According to SBI’s website, the higher interest rates will take effect on June 1, 2022.
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3. Change in Axis Bank Savings Account Fee
Private sector bank Axis Bank has increased the minimum account balance limit for bank accounts. The minimum account balance limit in savings accounts like Easy Savings and Salary has been increased from Rs 15,000 to Rs 25,000, or to maintain a fixed deposit of Rs 1 lakh. Apart from this, the minimum account balance limit in Liberty Savings Account has been increased from Rs 15,000 to Rs 25,000.
4. The India Post Payment Bank charges will rise.
India Post Payments Bank has increased the fee for payment through Aadhaar, which will be effective from June 15. From now on, only the first three payments through Aadhaar will be free and there will be charges thereafter. Thereafter Rs 20 fee + GST ​​will be levied on each cash withdrawal and cash deposit. After the first three payments, Rs 5 + GST ​​will also be levied on each mini statement.
5. The second phase of gold hallmarking from today,
The second phase of hallmarking of gold jewelery has started in 288 districts of the country from June 1, i.e. today. Of these, 256 have already been declared while 32 new districts have been included. From today, 14, 18, 20, 22, 23, and 24-carat gold jewelery will be sold with hallmarking in a total of 288 districts of the country. In these 288 districts, only 14, 18, 20, 22, 23, and 24-carat gold jewelery will be sold and hallmarking will be mandatory.
