These new rules will be applicable from June 1, will directly affect your finances

New Rule in June:

Some new rules are going to be implemented from the month of June, which will directly affect your financial situation. In such a situation, everyone must be aware of these new rules.

From June 1, the pockets of home loan borrowers of State Bank of India, Axis Bank and India Post Payments Bank customers, drivers are going to be affected. 

Know here in detail:

State Bank Of India (SBI)

State Bank of India has increased its home loan external benchmark lending rate by 40 basis points to 7.05 per cent, while the RLLR will be 6.65 per cent plus CRP. State Bank of India has informed that the increased interest rates will be effective from June 1, 2022.

Third party insurance will become expensive

The Ministry of Road, Transport and Highways has announced a hike in third party insurance premium for private cars. Third party insurance for private cars with engine capacity between 1000 cc and 1500 cc has been increased from Rs 3,221 to Rs 3,416 in 2019-20.

Gold hallmarking

The second phase of hallmarking will be implemented from June 1, 2022, making hallmarking of gold jewelery mandatory in 256 districts of the country and 32 new districts covered by Assaying and Hallmarking Centers (AHC). Only gold jewelery and antiquities weighing 14, 18, 20, 22, 23 and 24 carat will be sold in 288 districts.

India Post Payments Bank

India Post Payments Bank (IPPB) has informed that the issuer fee for Aadhaar Enabled Payment System (AEPS) will be implemented on June 15, 2022. India Post Payments Bank is a subsidiary of India Post. The first 3 AEPS transactions every month will be free of cost, including AEPS cash withdrawal, AEPS cash deposit and AEPS mini statement.

Axis Bank

Axis Bank has also increased the average monthly balance for Easy Savings in semi-urban/rural areas from Rs 15,000 to Rs 25,000 or fixed deposit of Rs 1 lakh. Apart from this, the balance required for Liberty Savings Account has been increased from Rs 15,000 to Rs 25,000. Axis Bank is also going to implement this new tariff from June 1, 2022.

Gas cylinder

The gas cylinder prices are also reviewed on the 1st of every month. Therefore, apart from increase, reduction in the price of LPG cylinder from June 1, the status quo is also likely to remain intact.


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