Many financial rules and regulations are changing in June, know the details



New changes in rules-regulations are part of the economy. It is we who have to change our budget and plans accordingly, so that we can meet our desires and achieve goals. The June of 2022 has also made some financial changes. We must be aware of these changes. These changes have been made in banks, insurance, and loans also. The government came up with a few changes, which will affect our financial health.

Revised Interest rate on SBI home loan

State bank of India has revised rate of interest on home loans since June 2022. It means If you are availing a home loan from SBI, your rate of interest will increase a little bit from this month of June. According to new rules, SBI has increased its home loan external benchmark lending rate (EBLR) which leads to a high rate of interest. SBI RLLR would be 6.65 percent and CRP will be added. Previously, the EBLR stood at 6.65%, while the Repo-Linked Lending Rate (RLLR) stood at 6.25 percent.

Changes in banking services

Axis bank introduced new service charges on savings accounts as well as cheque facility from the month of June. Minimum balance requirement has also increased. In semi urban and rural areas the average monthly balance requirement would be 25000 which was 15000 earlier.

The Indian post payments bank is a subsidiary of Indian post and it is governed by the postal department. The Bank (IPPB) has stated that issuer charges for the Aadhaar Enabled Payment System have been implemented. The first three AEPS transactions each month will be free.

New premiums of Motor vehicle insurance

Premiums of insurance for motor vehicles have increased a little bit since this month. The ministry of road transport and highways of India has already released a circular regarding this. Now If you are having any vehicle with the capacity of 1000 CC engine its premium will increase 22 rupees which is now Rs. 2072 will increase to Rs. 2094. And vehicles with engines of more than 1000 CC premium rise to Rupees 195, which will be rupees 3416, earlier it was Rs. 3221. Larger vehicles with engines of 1500 CC have raised premiums of rupees 7 only. It was earlier 7890 now it will be Rs 7,897.

In the two wheeler segment, vehicles between 150 CC and 350 CC premium will be Rupees 1366 and two wheelers with engines over 350 CC will have to pay a premium of rupees 2804.

Second stage of Gold hallmarking for pure gold launched

The purity of gold is always a matter of concern. Now it is the time when you will not be in doubt for its purity. Either it is used in ornament or in the form of coins or biscuits; its value depends upon its purity. The Indian government is trying to establish a guarantee on gold. This is why the system of hallmarking was introduced. It is operating in different stages. Now the Second stage of gold hallmarking started in June first in our nation. Hallmarking centers have to open in 32 new districts of the nation in this stage. After this there will be 288 centers in India where gold can be sold with the hallmark of 14, 18,20,22, 23 and 24 carats.

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Dr. Kirti Sisodhia

Content Writer

CATEGORIES Business Agriculture Technology Environment Health Education

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