Rules Changing from 1st June: 5 big changes that are likley to impact your pocket

India's largest public sector bank has increased its External Benchmark Lending Rate (EBLR) by 40 bps to 7.05 per cent where as Repo Linked Loan Rate(RLLR) at 6.65 per cent plus CRP (Credit Risk Premium). As per the official website of SBI, the new lending interest rates will be applicable from 1 जून, 2022. Prior to this the EBLR was at 6.65 per cent while RLLR stood at 6.25 per cent. Source: PTI

As per the notifiation issued by Ministry of Road Transport and Highways, third part insurance premiums f private four wheelers and two wheelers will rise. The annual rate will be increases from Rs 2,072 to Rs 2,094. This will be for vehices up to 1000 cc. For private vehicles with engine capacity between 1000 cc and 1500 cc,  third-party insurance will be increased from Rs 3,221 in 2019-20 to Rs 3,416. For vehicles with engine capacity above 1500 cc, the premium will be reduced from Rs 7,890 to Rs 7,897. Source: Reuters

The Government has increased the premium rates of its flagship schemes Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) with effect from 1 June. The premium rates of the schemes have been revised by making it Rs 1.25 per day premium for both schemes that includes revising PMJJBY from Rs 330 to Rs 436 and PMSBY from Rs 12 to Rs 20.   

The decision has been taken in view of the long-standing adverse claims experience of the PMJJBY and PMSBY schemes and to make them economically viable, the release said. It is the first revision in premium rates in the last seven years since inception of the schemes in spite of recurring losses to the insurers.

Any change in the price of your LPG gas cylinder is done on the first date of every month. The price could change on 1 June or the may also remain same. Source: PTI

Second phase of Gold Halmarking in India will be implmented from 1 June. This could have an impact on the price of Gold products that you buy. Gold halmarking is being implemented to ensure purity in gold. Currently, halmarking has been made mandatory in 256 districts in India. Source: Reuters