While purchasing a car from August 1, it will not be necessary to take a 3-year third party cover for the car and 5 years for two wheelers.
RBI has changed the interest rates on savings account, now 4.75% annual interest will be given on deposits up to Rs 1 lakh in savings account
Many major changes are going to take place in the country from 1 August. This will directly affect your pocket. These changes include banking and car buying rules. Today we are telling you about these changes so that you can adjust yourself accordingly.
Buying a car will be cheaper The
rules related to car and two-wheeler insurance are going to change from August 1. According to the instructions of the Insurance Development and Regulatory Authority of India (IRDA), from August 1, it will not be necessary to take a third party cover for a car for 3 years and 5 years for two wheelers when purchasing a car. IRDA has withdrawn the Long Term Packaged Third Party and On-Damage Insurance Policy in June. Irda said that due to these, the price of trains increases, making it difficult to take a vehicle.
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Changes in banking rules
Many banks have announced levy of charges for no minimum balance in the account from 1 August. Also, fees will also be charged after three free transactions in these banks. Bank of Maharashtra, Axis Bank, Kotak Mahindra Bank and RBL Bank will start charging this. Savings account holders at Bank of Maharashtra have to keep a minimum amount of Rs 2,000 in their accounts in metro and urban areas, which was earlier Rs 1,500.
RBL Bank has changed the interest on savings account
RBL recently cut interest on savings account. Now, a deposit of up to Rs 1 lakh in a savings account will get 4.75% interest annually. At the same time, 6 percent will be given on deposits up to Rs 1-10 lakh and 6.75 percent interest on deposits ranging from Rs 10 lakh to 5 crore. At the same time, customers can now withdraw cash from the ATM 5 times a month for free. The new rules will come into effect from 1 August.
E-commerce companies will have to tell where the product is made.
From August 1, it will be necessary to tell e-commerce companies where the product they are selling is made. The Department for Promotion of Industry and Internal Trade (DPIIT) has said that all e-commerce companies will have to update the country of origin of all their new product listings by 1 August. This has been done to promote local products.
