These rules will change from June 1, which will affect you… Will change in bank interest and LPG rates also?

For the work related to the bank, one has to see that the day we have fixed, is there any holiday on that day. Many banks have also fixed the date of June 1 for some changes.

Rule Changes From 1st June: The date of June 1 is worth keeping in mind for us in many ways. As soon as the new month comes, first of all our attention goes towards the holiday of the month. For the work related to the bank, one has to see that the day we have fixed, is there any holiday on that day. Many banks have also fixed the date of June 1 for some changes.

If you are a customer of Bank of Baroda, a customer of Canara Bank or a Syndicate Bank… then June 1 is important for you. From June 1, Bank of Baroda customers are going to change the rules related to check payment. At the same time, the IFSC code will be changed for the customers of Canara Bank and Syndicate Bank.

IFSC code will be changed from 1 July
According to the information recorded on the Canara Bank website, from July 1, the bank’s IFSC code will change. Syndicate Bank customers have been advised to update the new IFSC code by 30 June. To find out the new IFSC code, first go to the official website of Canara Bank, where information in this regard has been given. Please tell that Syndicate Bank has been merged with Canara Bank.

From June 1, the method of payment by check will change
Bank of Baroda is going to change the mode of payment for customers from June 1, 2021. To avoid being a victim of fraud, the bank has made Positive Pay Confirmation mandatory for customers. The positive pay system is a kind of fraud catching tool.

BoB officials say that customers will have to confirm the details of the check under the positive pay system only when they issue a bank check of Rs 2 lakh or more. This rule will come into effect from 1 June 2021.

Under this new arrangement of the bank, when a customer issues a check, they will have to give full details to their bank. The bank will cross-check these details before check payment. If any defect is found in it, the bank workers will reject the check.

LPG Cylinder Price
It is also possible to change the rate of LPG, ie LPG cylinder, from 1 June. Usually every month oil companies release new prices of LPG cylinders. Many times, changes are also seen 2 times a month. At present, the price of 14.2 KG LPG cylinder is Rs 809 in Delhi. In addition to 14.2 KG cylinders, it is possible to change the price of 19 KG cylinders as well. However, new prices are not required to be released only on 1 June. Sometimes the rates remain the same.

Change in Interest Rate of Small Savings Schemes
Changes in the interest rates of Small Saving Schemes like PPF, NSC, KVP and Sukanya Samriddhi are also to be done this month. New interest rates of Small Savings Schemes are applied by the government every three months. Many times it happens that the old interest rates are revised. At the close of the last quarter of the financial year 2020-21 on March 31, new interest rates were released, which were withdrawn within 24 hours and the old rates remained the same. Now on June 30, new interest rates will be applied again.