There are going to be changes in some important rules across the country from June 1, 2025. Be it the price of LPG, interest on bank FDs, the method of withdrawing money from ATMs, or the use of credit cards—everything is going to change. In such a situation, it is very important to know which changes can directly affect your everyday life and expenses.
Technological revolution in EPFO—withdrawal of PF will become easier
EPFO, i.e., Employees Provident Fund Organization, is now going to bring new version 3.0. After this, PF-related services will become more digital and easier than before. Now direct withdrawal can be possible through an ATM-like card, and also making claims and updating data will also be done instantly.
Strictness for credit card users—charges will be levied if auto debit fails
From June 1, the rules may become stricter for credit card users. If your auto-debit fails, a penalty of up to 2% may apply. Apart from this, there is a possibility of additional charges on transactions like utility bills and fuel and extra fees on international payments. The scheme of reward points can also be changed.
Withdrawal of money from an ATM will be expensive—new fees are applicable. New fee structure may be applicable to ATM transactions from the beginning of June. This means that after limited free transactions, now you may have to pay higher charges for withdrawing a larger amount or withdrawing more frequently.
Change in LPG gas prices—impact on kitchen budget
LPG cylinder prices are reviewed on the 1st of every month. In such a situation, there may be an increase or reduction in cylinder prices even on June 1. This change will directly affect your kitchen budget.
Fluctuations in FD interest rates
There may be a change in interest rates for those investing money in fixed deposits from June 1. Currently most of the banks are offering interest between 6.5% and 7.5%, but it is being estimated that these rates may decrease in the coming time.
What to do?
The impact of these changes will be clearly visible on savings, expenditure, and investment. In such a situation, start planning from now:
- Update your PF account information.
- Repay credit card dues on time.
- Pay attention to the habit of withdrawing cash from ATMs.
The users are advised to consistently check the LPG rate and compare the interest rates before investing in FD.