These 5 big rules related to pocket change from June 1! From UPI payment to cylinder prices, direct impact on the general public

Financial Rule Changes June 1: With the beginning of the new month, many important changes have come into effect from June 1, affecting the everyday financial activities of common people. These include many important decisions like strengthening the security of the UPI payment system, changes in ATM withdrawal rules, changes in the provisions related to PAN card, advance tax payment deadline and increase in LPG prices. The aim of these changes is to make digital transactions more secure, increase financial transparency and provide better services to consumers.

Rules will change regarding UPI payment

The biggest change will be seen in the UPI payment system. To make digital payments secure, large transactions will no longer be allowed based only on 4 or 6 digit UPI PIN. For payments of higher amounts on platforms like Google Pay, PhonePe and Paytm, the process of additional verification (KYC) can be adopted. This will include features like fingerprint scan, face recognition or device based two-factor authentication. The government and regulatory bodies believe that this will reduce the cases of online fraud and cyber crimes.

Another important service is being started for UPI users. Now the verified official name of the beneficiary will appear on the screen before making the payment. This information will be obtained from a secure banking database. The purpose of this feature is to reduce the incidents of money being transferred to the wrong account and to give users the opportunity to ensure the identity of the recipient before making the payment.

There will be no charge on cardless ATM withdrawal

ATM withdrawal rules have also been changed. Now UPI based cardless ATM withdrawals will also be included in the monthly free withdrawal limit of the bank. This means that if a customer exceeds the prescribed number of free transactions, he may have to pay charges on additional withdrawals. This arrangement will be applicable just like normal ATM withdrawal done through debit card.

Advance tax will have to be deposited by June 15

The month of June is especially important for taxpayers. The first installment of advance tax for the financial year 2026-27 will have to be deposited by June 15. Individuals or businesses whose total estimated tax liability exceeds Rs 10,000 will be required to pay 15 per cent of their estimated tax by this date. If the prescribed deadline is not followed, interest at the rate of 1 percent every month may have to be paid.

RBI MPC meeting will be held between 3rd to 5th June

This month, the financial markets will also keep an eye on the Monetary Policy Committee (MPC) meeting of the Reserve Bank of India, which will be held between June 3 and 5. Investors and the banking sector are keen to know whether RBI makes any changes in the repo rate. Along with this, the comments of the Central Bank regarding inflation, economic growth and liquidity in the banking system will also be important. Any possible change in interest rates in future may impact home loan EMIs, interest on fixed deposits and cost of other loans.

Commercial LPG cylinders become costlier from June 1

The beginning of June has also proved expensive for LPG consumers. The prices of 19 kg commercial LPG cylinders have been increased. In Delhi, its price has increased by Rs 42 to Rs 3,113.50 per cylinder, while in Kolkata, after an increase of Rs 53.50, the price has reached Rs 3,255.50 per cylinder. Apart from this, the price of 5 kg Free Trade LPG (FTL) cylinder has also been increased by Rs 11. However, there has been no change in the prices of domestic LPG cylinders, which has brought relief to common consumers.

Signs of increase in prices of petrol and diesel

It will also be important to keep an eye on fuel prices. Fluctuations in global crude oil prices and ongoing geopolitical developments in West Asia may impact domestic petrol, diesel and CNG prices. The increase in fuel costs also impacts transportation, logistics and prices of daily consumer goods.

There will be changes regarding EPFO ​​also

The Employees’ Provident Fund Organization (EPFO) is also testing a new facility, under which employees will be able to withdraw funds from their PF account through UPI. If this system is implemented, the process of PF withdrawal will become faster, simpler and convenient than before.

PAN card will not be required to deposit more than Rs 50 thousand

Important changes have also been made in the rules related to PAN card. Now PAN card will not be mandatory for normal cash deposits of more than Rs 50,000. However, if a person’s total cash deposits or withdrawals exceed Rs 10 lakh or more in a financial year, PAN rules will apply.

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A new system has also been implemented in real estate transactions. Earlier it was mandatory to provide PAN number on purchase and sale of property worth more than Rs 10 lakh, but now this limit has been increased to Rs 20 lakh. Also, reporting has been made mandatory for property deals, gift deeds and joint development agreements worth more than Rs 45 lakh. These changes are aimed at increasing transparency in financial transactions and strengthening tax compliance.