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From June 1, LPG prices, bank FD and loan rates, and credit card rules change, free Aadhaar updates end June 14, SEBI speeds mutual fund settlement in phased rollout
Banks are also expected to revise interest rates on fixed deposits and loans (AI Image)
Several financial rule changes related to LPG prices, credit cards, fixed deposits and Aadhaar updates will come into effect from June 1 and are expected to impact household expenses and banking transactions.
State-run oil companies are likely to revise LPG cylinder prices on June 1 as part of their monthly price review mechanism. Domestic and commercial cylinder rates are revised at the start of every month based on global fuel prices and market conditions.
Banks are also expected to revise interest rates on fixed deposits and loans following the Reserve Bank of India’s recent policy stance. Some lenders have already reduced FD rates after changes in repo-linked lending rates.
New credit card rules will also come into effect for users of certain banks. Changes include revised reward structures, transaction charges and lounge access benefits on select cards. Customers have been advised to check updated terms and conditions issued by their respective banks.
The deadline for free Aadhaar updates on the Unique Identification Authority of India (UIDAI) portal will also end on June 14. After that, users updating demographic details such as address or identity documents online may have to pay a fee.
The Securities and Exchange Board of India’s new rules for faster settlement of mutual fund redemption proceeds and other market-related transactions are also expected to be implemented in phases during June.
Experts said consumers should review bank notifications, credit card rules and investment-related changes carefully as the revised norms could affect savings, borrowing costs and monthly spending patterns.
Delhi, India, India
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