On March 1, several new government regulations that will directly affect your finances will go into effect. This includes modifications to social media regulations, bank loan rates, and the price of LPG cylinders.
LPG prices
The majority of households in the nation cook with liquefied petroleum gas (LPG). Prices for liquefied petroleum gas (LPG) in India are set by state-owned oil marketing companies and are revised monthly. Since the price of LPG gas cylinders has not been increased since the previous time, there is a chance that it will be increased on March 1.
Current prices for a 14.2 kilogramme LPG gas cylinder in several cities are as follows:
New Delhi- ₹ 1,053.00
Mumbai- ₹ 1,052.50
Bengaluru- ₹ 1,055.50
Chennai- ₹ 1,068.50
Hyderabad- ₹ 1,105.00
Bank loans
On February 8, the Reserve Bank of India increased the repo rate in an effort to control inflation. Consequently, numerous banks increased their Marginal Cost of Funds-Based Lending Rates (MCLR). The effects of an increase in the repo rate – the interest rate charged by the Reserve Bank of India on commercial bank borrowings – trickle down to borrowers of personal loans and bank depositors. Banks will increase both the interest rate and the term of retail loans; the longer the remaining term, the higher the EMI.
Train timetable
With the onset of summer and in advance of the country’s festival season, it is possible that the Indian Railways will alter the train schedule. ABP News reports that, beginning March 1, the schedules of 5,000 freight trains and thousands of passenger trains may be altered.
Bank holidays
Numerous festivals, including Holi and Chaitra Navratri, will be observed during the month of March, causing banks to close for 12 days. The holidays include every Sunday and every second and fourth Saturday. In the case of any significant bank-related tasks, it is advised to consult the RBI’s list of bank holidays. The holidays may differ between states.
Social media rules
The Indian government has recently revised its IT regulations. Now, social media platforms like Twitter, Facebook, YouTube, and Instagram must adhere to the new Indian regulations. The new policy could go into effect in March and will apply to posts that incite religious violence. Factually inaccurate posts may also result in a fine for the author.
