New Rules From June 1st : Starting June 1, 2025, many new financial rules will come into effect in India. These changes may impact your daily life, including how you use credit cards, withdraw cash from ATMs, and even buy gas cylinders. Here’s a simple breakdown of what to expect:

New Rules From June 1st :

1. EPFO 3.0 Update

EPFO (Employees’ Provident Fund Organisation) is launching a new version called EPFO 3.0. This upgrade will make it easier for employees to withdraw money, update KYC, and file claims. You may soon use ATM-like cards to withdraw your PF amount easily.

2. Credit Card Charges

From June 1, banks will charge 2% penalty if auto-debit fails due to insufficient balance. Also, there may be extra charges on utility bills, fuel payments, and international transactions made via credit cards. Some banks may also reduce the value of reward points.

3. Fixed Deposit (FD) Interest Rates

Many banks like HDFC and Axis have already reduced FD interest rates. More changes are expected on June 1. Currently, rates vary between 6.5% and 7.5%. These changes will affect your future savings.

4. LPG Gas Cylinder Prices

LPG cylinder prices are revised every month on the 1st. The price may go up or down, directly affecting household budgets. A small increase or decrease can make a big difference to common people.

5. ATM Withdrawal Rules

ATM withdrawal charges might also change. If you exceed the free transaction limit, you may have to pay more from June 1. This will affect people who withdraw cash often.

These new rules aim to modernize services and improve efficiency, but they can also increase your expenses. It’s a good idea to stay informed and plan your budget accordingly from June 1.

Stay updated and manage your money wisely!

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