From LPG to FD, know key changes from Oct 1

OTP based LPG delivery services may also begin from October 1. Aadhaar biometric authentication or LPG eKYC will become mandatory

From LPG to FD, know key changes from Oct 1: The month of October will bring several significant changes which will impact house budget and consumers pocket. The changes includes price of LPG cylinders to withdrawing money from bank ATM’s. Furthermore purchasing electronic items such as TV, fridge and AC will become expensive.

First Change: LPG Rules: Oil marketing companies revise LPG cylinder prices and issue new rates. In recent past several changes has been made to prices of 19 kg commercial cylinders but prices of 14 Kg domestic LPG cylinders has remained stable.

Users those have not completed their Aadhaar biometric authentication or LPG eKYC for their LPG connection may face difficulties in receiving the LPG subsidy. Now this has become mandatory. Additionally OTP based LPG delivery services may also begin from October 1.

Second Change: ATF prices will change

From October 1, oil marketing companies will also revise aviation fuel or Air Turbine Fuel(ATF) prices. This may reduce or increase expenses of air passengers. Now ATF price per kilolitre sold in Delhi is Rs 1, 04,927, Kolkata(Rs 1, 09, 450), Mumbai(Rs 98, 247) and Chennai (Rs 1, 09,873).

Third Change: SBI ATM withdrawal charges

Both savings account holders and salary account holders may incur higher cash withdrawal charges. Customers with Basic Savings Bank Deposit (BSBD) accounts opened through branches will be charged ₹15 plus GST for each ATM withdrawal after the four free withdrawals per month.

Meanwhile, the monthly free transaction limit for salary account holders is being reduced from 10 to 5. Beyond the free ATM withdrawal limit, you will have to pay ₹23 plus GST per transaction. Non-financial transactions will be charged ₹11 plus GST after the free limit.

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Fourth Change: Electronic items may be expensive

Buying home electronics such as TV, refrigerator, AC price may increase from October 1. The price may rice due to sharp increase in the cost of key raw materials such as copper, steel, aluminum and crude oil along with increased freight charges.

Fifth Change: Rules related to FD rates

The Reserve Bank of India may change rules related to FD interest rates. Under new rules banks will be required to update FD interest rate details by 10 am daily. Every rule related to this will have to be displayed on the website. The rule regarding differential interest rates or run off rates, on bulk deposits will also change.