Rule change from August 1: Many rules change on the first day of the month, which directly affects the general public. Many rules are about to change from August 1. Let us understand how these rules affect you and your pocket when these rules are implemented.
Salary and pensions come on the first date
Even though it is now the first day of the month, you still have salary and pension debt in your account. This is because the Reserve Bank of India has announced that the National Automated Clearing House (NACH) will be available to all from August 1. This means that from next month onwards, the first day the account pays, EMI, mutual fund installment, gas, telephone, electricity bill, water bill can also be paid.
Removing money from an ATM is going to be expensive
In June itself, the Reserve Bank of India said in its notification that the ATMs’ exchange fee has been increased from Rs.15 to Rs.17. The Reserve Bank of India has increased the exchange fee after 9 years. This increase has been made in view of spending on ATMs and future expansion plans. The fee on non-financial transactions has been increased from Rs 5 to Rs 6.
Payments for these banking facilities are due from August 1
Earlier this month, the Indian Post Payment Bank (IPPB) said it would now impose a door step banking facility. According to the IPPB, now every time you have to pay GST plus Rs 20 for Door Step Banking facility. So far the service has been completely free. That is, for post office related projects like the Sukanya Prosperity Scheme now, if you take home services, then you have to pay 20 fees.
ICICI Bank Fee
ICICI Bank has changed the terms of cash transaction, ATM interchange and check book fees for savings account holders. These new regulations will come into effect from 1 August 2021. According to data provided on the bank’s website, customers in six metro cities can make only 3 transactions in a month. Subsequent transactions are charged. At the same time, five transactions were exempted from other locations. For transactions exceeding the limit, the bank will pay Rs. There is a charge for every financial transaction. At the same time, non-financial transactions amounted to Rs. 8.50 charged. Let’s say ICICI Bank allowed a total of 4 free cash transactions per month. At the same time, after withdrawing the money 4 times, you have to pay the fee.
In addition, there is no charge to withdraw cash up to Rs 1 lakh per month from the Home Branch. But for cash transactions of more than Rs 1 lakh, Rs. Have to pay.
LPG Gas Price
The government releases LPG gas prices on the first day of each month. Whether or not the government will raise the price of LPG gas cylinders will be known only on August 1.