May 1 Brings 5 Key Changes: Anticipated Effects on LPG Cylinder Rates, Banking Facilities Inside!

Change is evident

Each months first day ushers in numerous changes nationwide, impacting various aspects, including finances.This implies that there will be significant changes starting tomorrow that may have an impact on your finances.

LPG and the matter

Their impact is felt on everything from credit cards to LPG. It is crucial that you are aware of them in this kind of circumstance. Allow us to explain the adjustments that will take effect on September

LPG to PNG prices to go on toll

Changes on May 1 affect everything from LPG to CNG and PNG prices, reflecting adjustments by oil marketing companies amidst ongoing Lok Sabha elections. While commercial gas cylinder prices see a decrease, public anticipation mounts for potential alterations in LPG cylinder rates. Additionally, revisions extend to ATF, CNG, and PNG costs.

Understanding The Banking

ICICI Bank revises customers savings account charges effective May 1, 2024. Annual debit card fees increase to Rs 200, yet remain at Rs 99 for rural areas. Notably, the bank introduces a new checkbook policy, offering a free 25-page checkbook but charging Rs 4 per additional page. IMPS transaction fees will range from Rs 2.50 to Rs 15.

Saving and Slab

Yes Bank announces several modifications, including the elimination of minimum average balance charges for savings accounts starting May 1. Savings Account Pro Max incurs a maximum annual benefit (MAB) of Rs 50,000 and a maximum fee of Rs 1,000. Other account types impose varying fees and balance requirements.

May days to look out for

May 2024 presents a total of 14 bank holidays, including Rabindranath Tagore Jayanti and Maharashtra Day. Its essential to review the Reserve Bank of Indias (RBI) holiday list to plan banking activities accordingly, considering Sundays and specific Saturdays also count as holidays.

Carding Fiasco

Credit card users face heightened charges for bill payments, particularly for electricity bills. Yes Bank credit card users pay an additional 1% fee for bills exceeding Rs 15,000, while IDFC First Bank credit card users face an extra 1% fee plus 18% GST for bills surpassing Rs 20,000.