Changes From May 1: Many existing rules will change from May 1, which will impact various aspects of daily life, about which people need to be aware. These changes include a variety of changes, notably financial regulations including increases in charges for certain banking services. Credit card users and those wishing to make payments using checkbooks should also be aware of these changes, with credit card users of some banks having to pay a higher amount as fees to pay utility bills. .
Changes in bank rules
Yes Bank is revising the minimum average balance required to be maintained in different types of its savings bank accounts. From May 1, 2024, the minimum balance in savings accounts Pro Plus, Yes Essence SA, Yes Respect SA will be increased to ₹25,000. Meanwhile, the minimum average balance in Account Pro Max will be ₹ 50,000.
News for ICICI Bank customers:
The private sector bank has changed the service charges related to its savings account. The annual debit card fee has been reduced to ₹ 200 in urban areas and ₹ 99 in rural areas. Apart from this, customers will have to pay a fee (₹ 4 per cheque) for taking check books with more than 25 pages. Also, the transaction amount of IMPS has been fixed between ₹ 2.50 to ₹ 15 per transaction.
Credit Card Fees
IDFC and Yes Bank have announced that they will charge 1 percent GST for utility bill payments. While the limit for Yes Bank customers is ₹ 15,000, IDFC has increased it to ₹ 20,000 in a single billing cycle. The new charges will be applicable from May 1.
Price of LPG Gas Cylinder:
The price of these cylinders is declared on the first of every month and is decided by the oil marketing companies. The prices of 14 kg domestic and 19 kg commercial cylinders are fixed. In March 2024, a few days before the announcement of the election schedule, the central government had cut the price of LPG cylinder by Rs 100.
Will Indians be affected by this decision of Canada?
On March 21, Immigration, Refugees and Citizenship Canada announced changes to its Temporary Foreign Worker Program, as part of a review of immigration policies. Effective May 1, 2024, the Labor Market Impact Assessment (LMIA) will be valid for a period of six months, resulting in a reduction in the period for foreign nationals to apply for a work permit. Additionally, the threshold for low-wage temporary foreign workers in some sectors will be reduced from 30 percent to 20 percent.
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