5 big changes to happen in the month of August, Pocket expenditure to get increased.

Publish Date: 02 Aug, 2022 |

Many rules are going to change beginning in August. This will have a significant and far-reaching impact on our lives. While this means that salaried people's salaries will be able to arrive in their accounts even on holidays, it also means that using ATMs will be costly. There is also the possibility of an increase in LPG prices.

Use of ATM will be expensive

Under the new rules of Reserve Bank of India, now bank customers can take advantage of the facility of 5 free transactions every month, which includes financial and non-financial transactions, from their bank's ATMs. After this, they will have to pay a charge on the transaction. RBI has increased the interchange fee per transaction from Rs 15 to Rs 17 for financial transactions and from Rs 5 to Rs 6 for non-financial transactions across all centres.

Not to wait for the Salary 

Salaried people will no longer have to wait for the salary to arrive. Now the salary will come in the account even on the day of the holiday. The Reserve Bank has changed the rules of National Automated Clearing House. It is a bulk payment system operated by NPCI, which facilitates various types of credit transfers such as dividend, interest, salary and pension. Currently, National Automated Clearing House services are available only on days when banks are functional, but from August 1, this facility will be available on all days of the week. With this, you will also not have to wait for important transactions like EMI.

Charges to be paid for the service of  Indian Post Payment Bank 

The fee for Indian Post Payment Bank's doorstep banking service must now be paid (IPPB). This was announced on the IPPB's official website. According to this, every time you use the door-to-door banking service, you must pay Rs 20 plus GST. Until recently, this service was completely free. That is, for post office-related schemes such as Sukanya Samriddhi Yojana, if you take services at home, you will now be charged 20 rupees.

LPG price hike possible

Every month on the first, the price of LPG is reviewed. In such a case, it is possible that domestic LPG prices in the state will be raised on a date in August. This is based on the fact that the price of gasoline and diesel continues to rise. However, some experts believe that due to the Uttar Pradesh elections and the drop in the price of petroleum products on the international market, the price may not rise this month.


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