5 Big changes coming into effect from August 1, will impact ATM's, Salary, EMI Payments

Many major changes are to be made by the government in the month of August. This is going to have a special and wide-ranging impact on our lives. These changes are going to increase out-of-pocket expenses.


5 Big changes coming into effect from August 1, will impact ATM's, Salary, EMI Payments

Many rules are going to change from the month of August. This is going to have a special and widespread impact on our lives. Under this, while on one hand, the salary of the salaried people will be able to come in their account even on the day of the holiday, on the other hand, using ATM is going to be costly. Also, there is a possibility of an increase in the price of LPG.


Use of ATM will be expensive:


Under the new rules of the Reserve Bank of India, now bank customers can avail themselves of the facility of 5 free transactions every month, which includes financial and non-financial transactions, from their bank's ATMs. 


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After this, they will have to pay a charge on the transaction. RBI has increased the interchange fee per transaction from Rs 15 to Rs 17 for financial transactions and from Rs 5 to Rs 6 for non-financial transactions across all centers.


NACH Clearing House will work 24/7 Days:


Salaried people will no longer have to wait for the salary to arrive. Now the salary will come into the account even on the day of the holiday. 


The Reserve Bank has changed the rules of the National Automated Clearing House. It is a bulk payment system operated by NPCI, which facilitates various types of credit transfers such as dividends, interest, salaries, and pensions. 


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Currently, National Automated Clearing House services are available only on days when banks are functional, but from August 1, this facility will be available on all days of the week. With this, you will also not have to wait for important transactions like EMI.


Withdrawing money from ICICI Bank will be expensive:


You can do up to four transactions per month with ICICI Bank. If a customer withdraws more than four times, then he will have to pay Rs 150 for a one-time transaction. 


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Apart from this, ICICI Bank has fixed transactions up to Rs 1 lakh for every month. After this, they have to pay a charge on the withdrawal of money.


Indian Post Payment Bank service charges will start:


Now the fee will have to be paid for the doorstep banking facility of Indian Post Payment Bank (IPPB). This has been announced on the official website of IPPB. According to this, every time for a doorstep banking facility, Rs 20 plus GST will have to be paid. 


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Till now this service was completely free. That is, now for post-office-related schemes like Sukanya Samriddhi Yojana, if you take services at home, then 20 rupees will have to be charged.


LPG price hike possible:


The price of LPG is reviewed on the 1st of every month. In such a situation, there is a possibility that the domestic LPG prices in the state may be increased on a date in August. This is being gauged from the fact that the price of petrol and diesel continues to rise. 


However, some experts say that due to the elections in Uttar Pradesh and the fall in the price of petroleum products in the international market, it is possible that the price may not increase this month.

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