The month of June is bringing many big changes that will indirectly affect your pocket. Next month, there may be changes in the rules related to bank FD and credit cards. Along with this, EPFO 3.0 is being launched, which will make the facilities related to PF even better.
The prices of LPG cylinders will also be reviewed. All these changes can directly affect your financial planning. Therefore, knowing and understanding these important updates is extremely important for you, so that you can make informed decisions. Let’s discuss all these changes in detail.
EPFO 3.0
EPFO (Employee Provident Fund Organisation) is going to launch EPFO 3.0 in June. The objective of EPFO 3.0 is to provide convenient service to the beneficiary. Through EPFO 3.0 (EPFO 3.0), facilities like withdrawing money from ATM, and updating data related to PF will become better. This is a big step for PF account holders so that they will be able to manage their accounts more easily and get quick services.
FD rates will change
Next month, banks can revise their FD and loan interest rates again. In June, the central bank of our country will announce the new repo rate. It is estimated that the repo rate can be cut further by the Reserve Bank. This will impact the interest rate of loans and FD. If the repo rate decreases, the interest on FD may also decrease, while loan rates may decrease. This is important for both investors and borrowers.
Big change in credit card
Kotak Mahindra Bank has made a big change in the rules related to credit cards. These rules will be effective from June 1, 2025. These changes are going to be related to reward points, cashback, and charges associated with credit cards. Kotak Mahindra credit card holders will see this change from June 1.
If media reports are to be believed, credit card users will face a limit to getting rewards. So, read the terms and conditions of your credit card carefully.
Revision in LPG cylinder price
On the first date of every month, changes are made by the gas agency in the prices of domestic and commercial LPG cylinders. However, last year there was no change in the price of domestic LPG cylinders. Earlier this month, the prices of commercial cylinders were reduced. The prices of commercial cylinders were reduced by ₹17. It is expected that the prices will be reviewed in June as well, which may give consumers some relief or a new price.