There are going to be changes in many rules from August 1, which will have a direct impact on our pockets. These include payment of salary by the Reserve Bank of India (RBI) on bank holidays from August 1, announcement of new cylinder prices, costlier withdrawals from ATMs.
New Delhi: There are going to be changes in many rules from August 1, which will have a direct impact on our pockets. These include payment of salary by the Reserve Bank of India (RBI) on bank holidays from August 1, announcement of new cylinder prices, costlier withdrawals from ATMs, changes in the rules of the National Automated Clearing House and major changes related to ICICI Bank customers.
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Let us know about all these changes in detail:
Now salary will also come on holidays: According to the Reserve Bank of India (RBI), from August 1, 2021, the bulk payment system National Automated Clearing House (NACH) will be available on all days of the week. Till now this facility was available on weekdays only. With this, the salary will be credited to bank accounts even on holidays.
New cylinder prices: From August 1, the prices of LPG cylinders will change. Companies make these changes on the first day of every month. New prices of domestic LPG and commercial cylinders are fixed on the first of every month.
ATM Interchange Charges: According to the new rules of RBI, customers can do five free transactions every month from their bank's ATM. After that, you will have to pay a charge on the withdrawal. With effect from August 1, 2021, commercial banks will be allowed to increase 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 centres.
The RBI has also allowed banks to increase charges for cash and non-cash ATM transactions over and above the free monthly limit from next year. The RBI has also said that bank customers will have to pay Rs 21 per transaction instead of Rs 20 with effect from January 1, 2022, if the monthly limit of free transactions is exceeded.
Withdrawing money from ICICI Bank will be more expensive: This news is important for the customers of ICICI Bank. From August 1, you may withdraw money from the account four times every month. If you withdraw money more than this, you will have to pay 150 rupees per transaction. Both home branch and non home branch transactions are included in the value limit (deposit + withdrawal).