There have been many major changes in India since May 2020, i.e., today. These changes will have a direct impact on your life. While these new rules will give you relief on the one hand, if you do not take care of certain things, you may also suffer economic losses. These include pension, ATM, railways, airlines, gas cylinders, interest on savings accounts, and digital wallets. Let us know about these important changes.
Full pension from May:
Employees Provident Fund Organisation (EPFO) is good news for customers. The government had recently resumed the provision of payment of full pension amount after 15 years of retirement. It will now get the full pension from May. People opting for this option get the entire pension as restoration after some time. It may be known that this rule was withdrawn in the year 2009. More than 6.5 lakh pensioners in the country will be benefited.
These ATM-related rules also changed:
A lockdown has been declared by the government to prevent the spread of coronavirus in the country. For more caution, a new system is now going to be set up for ATMs also. It will be cleaned after each person uses the ATM. This system has started in Ghaziabad and Chennai, and this rule is being strictly followed. The municipal corporation in the hotspot will now have a sanitization twice a day.
Boarding stations to be converted up to 4 hours in advance:
Railway services are closed due to lockdown in the country. But a new rule has come into force for railway services in the future. Some of these rules are going to come into effect from May 1, according to which passengers will now be able to change the boarding station up to four hours before the chart is removed. While the first passengers were able to change their boarding station 24 hours before the date of the journey. If the passengers do not travel even after making changes in the boarding station and cancel the ticket, they will not be given any refund.
Amidst the lockdown, relief has been reported to the general public today. Prices of 19 kg and 14.2 kg non-subsidized LPG cylinders have become cheaper from today. The oil companies review the prices of LPG cylinders at the beginning of every month. In every state, the tax varies, and according to that, there is a difference in the prices of LPG.
Non-subsidized cylinder so cheap
The 14.2 kg non-subsidized LPG cylinder in Delhi has become cheaper by Rs 162.50. It has since been priced at Rs 581.50, up from Rs 744 earlier. In Kolkata, the price has come down from Rs 774.50 to Rs 584.50, down from Rs 714.50 in Mumbai to Rs 579. In Chennai, it was earlier Rs 761.50, up from Rs 569.50 from today.
19 kg cylinder so cheap
The 19 kg cylinder in Delhi has become 256 rupees cheaper. It has since been priced at Rs 1029.50, up from Rs 1285.50 earlier. In Kolkata, the price has come down from Rs 1348.50 to Rs 1086, down from Rs 1234.50 in Mumbai to Rs 978. In Chennai, it was earlier Rs 1402, which has gone up to Rs 1144.50 from today.
Savings accounts to get less interest:
The State Bank of India (SBI) has changed the interest on savings accounts from May 1, 2020. Now customers will get less interest on more than one lakh savings deposit accounts. You will get 3.50 percent annually and 2.75 percent annually on deposits up to Rs 1 lakh, which was 3.25 percent earlier.
The Reserve Bank of India (RBI) had cut the repo rate by 25 basis points in April. It has gone up from 6.25 percent to 6 percent. Thereafter, SBI reduced interest rates on savings deposits. SBI has linked the rates of savings deposits and short term loans with the repo rate by implementing external benchmark deals.
Air India not to charge Cancellation:
With this, the government aviation company Air India has also changed the rule. Air India is going to provide a major facility to the passengers from May 1. The passengers will no longer have to pay any extra charge on the cancellation of tickets. The cancellation charge will not be charged when the ticket is canceled or changed within 24 hours of booking. On April 24, the company informed it.
PNB's digital wallet shut down:
From today, Punjab National Bank has discontinued its digital wallet. PNB customers, who were using the PNB kitty wallet facility, can now use other digital modes such as IMPS for transactions. Know that customers can close their wallet account only if they have zero balance in their account. In this context, PNB has said that if you have money in your account, you will either have to spend it or transfer it to another account through IMPS.
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