The month of July is going to end. Many new rules are going to change after the end of July and with the start of the new month. From August 1, there are going to be many changes related to your bank account, from investment, to insurance to cooking gas, which will not only affect your life but also your pocket. Yes, from August 1, 2020, many important changes are going to take place, which need to be known.
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Rules will be changed with regard to minimum balance,
rules are going to change with respect to minimum balance from August. Several banks have made significant changes in this, including Axis Bank, Bank of Maharashtra, Kotak Mahindra Bank, RBL Bank, have decided to change the transaction rules from August 1. At the same time, it has also been decided to levy fees on withdrawing and depositing cash from the bank.
Changes in auto insurance
Auto insurance is going to change from August 1. The Insurance Regulatory and Development Authority of India has scrapped the mandate of three or five years of log term motor insurance. IRDA is going to make changes in third party and on-damage insurance from August 1. According to the new rule, it will no longer be mandatory to take 3 years of third party insurance if you buy a car and 5 years on buying a two-wheeler.
The second installment of PM Kisan Samman will be released from August 1,
the next installment of Rs 2000 installment to the farmers under the PM Kisan Relief Scheme will be released on August 1. Under the PM Kisan Samman Nidhi, the Central Government has given a delay of Rs. 6000 to the farmers in their account. It is given in three installments. Each installment is 2000 rupees. The first installment given under this scheme came in the month of April.
Changing Savings Account Interest Rates
RBL has decided to change the interest rate of its savings account from August. Apart from the interest rate of the savings account, there are many such charges which are coming into effect from August 1.
At the same time, the bank has made changes in the charge on issuing debit card again
Changes have been made in the rules for giving 250 rupees annually for Titanium Debit Cards.
Changes in the prices of LPG cylinders will be once again
the changes in the prices of LPG cylinders from August 1. Let us tell you that the price of gas cylinder has steadily increased since two months. In such a situation, the price of gas cylinder is going to change once again on 1 August.
Rules will change for e-commerce companies:
The rules of e-commerce companies are going to change from August 1. From August 1, it will be necessary for e-commerce companies to indicate the origin of the product. These companies have to tell where the product is made, who has made it. The Department for Promotion of Industry and Internal Trade has made it mandatory for all e-commerce companies to state the country of origin of new product listings.