India News : Several important changes are set to take effect across India from June 1, potentially impacting household budgets, banking services, travel expenses, and renewable energy projects. Here are five major changes that consumers should be aware of.
1. LPG Cylinder Prices May Change
Oil marketing companies revise the prices of domestic and commercial LPG cylinders on the first day of every month.
Currently in Delhi:
- Domestic LPG cylinder (14.2 kg): ₹913
- Commercial LPG cylinder (19 kg): ₹2,078
Given the ongoing tensions in the Middle East and fluctuations in global energy markets, LPG prices may be revised from June 1.
2. Air Turbine Fuel (ATF) Prices to Be Revised
Air Turbine Fuel (ATF), the fuel used by airlines, is also subject to monthly price revisions.
Any increase or decrease in ATF prices directly affects airline operating costs and can influence airfares. At present, ATF in Delhi costs approximately ₹1,04,927 per kilolitre.
3. HDFC Bank to Introduce New Deposit Rules
HDFC Bank is set to revise certain rules related to current accounts and other banking services from June 1.
Under the new rules:
- Deposits of notes with denominations of ₹20 or less will be capped at ₹10,000 per month.
- Coin deposits will be limited to ₹5,000 per month.
- Deposits exceeding these limits will attract an additional 2% charge on the excess amount.
Previously, no monthly deposit limit existed for such deposits.
4. New Solar Panel Regulations
A new Approved List of Models and Manufacturers (ALMM) List-II will come into effect on June 1.
Under the revised rules, only solar modules and cells included in the approved list will be eligible for use in government schemes and subsidy-linked projects.
The move aims to improve quality standards, but industry experts believe it could lead to an increase in solar panel prices.
5. Bank Holidays in June
Banks will remain closed on several occasions in June, depending on the state and local observances.
Apart from regular Sundays and the second and fourth Saturdays, banks may remain closed in certain regions on:
- June 15
- June 25
- June 26
- June 29
- June 30
However, digital banking services such as internet banking, mobile banking, and UPI transactions will continue to function normally.
Impact on Consumers
These changes could affect:
- Household cooking expenses
- Air travel costs
- Banking transactions and cash deposits
- Solar energy project costs
Consumers are advised to stay informed about the new rules and any price revisions that may take effect from June 1.
