New Delhi. There are going to be changes in many rules across the country from August 1, 2021. This will have a direct impact on your pocket and life. That’s why it is important that you know about these changes in advance. Actually, from August 1, transactions from the bank can be done on Sundays and holidays also. Apart from this, you will have to pay a higher fee for withdrawing money from ATM.
Today is the last day for KYC of trading account
If investors with demat or trading accounts do not complete KYC on Saturday, their accounts will become inactive from August 1. Investors have to provide their name, address, mobile number, PAN number, e-mail ID and income range in the KYC details. Most of the stock broking companies have warned their clients about this by sending an e-mail or letter. In April, Central Depository Services (CDSL) and National Securities Depositories Limited (NSDL) had issued circulars in this regard.
Now your salary-pension will come even on holidays
Now salary, pension and EMI can be paid for 24 hours and 7 days i.e. even on holidays. The facility of National Automated Clearing House (NACH) will now be available on all days of the week. The job of NACH is not only to pay salary and interest etc., but NACH also collects electricity, gas, telephone, water, loan installments i.e. EMI, investment in mutual funds and payment of insurance premium. People used to get this facility till now on working days of banks.
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There will be a fee for withdrawing cash from another bank’s ATM
The Reserve Bank of India (RBI) had announced an increase in the interchange fee from Rs 15 to Rs 17 for withdrawing cash from ATMs of other banks. Accordingly, the interchange fee for non-financial transactions will increase from Rs 5 to Rs 6. After about 9 years this fee has increased. Banks will pass on this fee to the customers. However, how much burden will increase on the customers, it is for the banks to decide.
Cars, bikes will also become more expensive
Toyota has announced a 2% increase in the prices of Innova Crysta. Japan’s leading two-wheeler manufacturer Kawasaki India is going to make its motorcycles costlier by Rs 6,000 to Rs 15,000. Tata Motors has also talked about making its cars expensive. Cars and bikes are getting expensive due to rising prices of raw materials used in the automobile sector including steel.
There may be a change in the price of LPG cylinder
Actually, on the first of every month, the oil and gas marketing companies announce the new price of LPG cylinder. Last month, these companies had increased the price of 14.2 kg domestic LPG cylinder by Rs 25.50.
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