New Delhi. Many such changes are going to take place across the country from June 1, which can directly impact the wallets and everyday lives of common people. With the new month, new rules are likely to be implemented in many sectors including banking, gas cylinder, UPI and railways. In such a situation, if you are not already updated, you may have to face additional expenses or problems.
Everyone’s eye on the price of gas cylinder
Like every month, this time too oil companies will release new prices of LPG cylinders on June 1. For some time now, the prices of commercial gas cylinders have been continuously increasing, due to which hotels and small businesses have been affected. Now domestic consumers are hopeful that there may be relief in the prices of LPG. However, the final decision will come only after review of the companies.
UPI payment will be more secure
Those making online payments may see a big change from June. Now while sending money, only the name of the person will be visible, which is registered in his bank account. This is expected to stop fraud through fake names to a great extent. This step is considered important to make digital transactions secure.
New change in PAN card rules
The Income Tax Department has implemented both some relief and some strictness in the rules related to PAN card. Now the requirement of PAN may be reduced in small cash transactions, but PAN will remain mandatory in big property deals and heavy transactions. Also, there are preparations to implement a new form in place of the old Form-60.
Railway passengers will have to take care
In June, Railways will do track improvement and upgrade work on many routes. Due to this, some trains may remain canceled and timings and routes of many trains may be changed. Passengers have been advised to check the status of their train before travelling.
Bank and ATM rules may change
Some banks may change the free withdrawal limit and charges from ATM. Apart from this, change in interest rates of FD and savings account is also possible. In such a situation, customers will have to keep an eye on the new guidelines of their bank.
Rules related to solar panels will be strict
The government is now going to increase the strictness regarding quality in the solar sector. From June 1, only solar panels from approved companies can be used in government subsidized projects. This will promote good quality equipment, although there may be some impact on prices.
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