The last month of the fiscal year has begun. On the first day of March, several changes have come into effect that will affect people’s daily lives. One of the major changes is the revision of the price of commercial LPG cylinders.
Here is a list of other changes:
India Post Payment Bank (IPPB) will implement closing costs for its digital accounts this month. “The charges will only apply in the event that the Digital Savings Bank (DGSB) account is closed at the end of a one-year period due to non-update of KYC,” it said in a statement. The users will be charged Rs 150 (plus GST) for closing digital accounts and the new rule will come into effect from March 5, 2022.
Amul has increased the price of its pasteurized milk package by Rs 2. Gujarat Co-Operative Milk Marketing Federation (GCMMF), which markets products under the Amul brand, said the increase has been implemented nationwide from March 1. Parag Milk Foods Limited has also increased the price of its Gowardhan brand cow’s milk by Rs 2 per liter from today.
Oil Marketing Companies (OMCs) have increased the price of 19kg of commercial LPG cylinders by Rs 105 in Delhi and Rs 108 in Kolkata. The price of a 5kg commercial LPG cylinder has also been increased by Rs 27. With this price increase, a 19kg commercial cylinder will cost Rs 2,012 in Delhi and Rs 2,095 in Kolkata as of March 1, respectively. household cylinders.
Jet fuel prices rose 3.3 percent on Tuesday to all-time highs across the country, in line with international oil prices reaching their highest level for more than seven years. This is the fifth price hike for jet fuel or Aviation Turbine Fuel (ATF) this year, following a relentless rise in global oil prices. Petrol and diesel prices, however, remained unchanged for the 116th day in a row.
The IFSC codes – used to transfer money digitally – of Lakshmi Vilas Bank (LVB) will be changed from March 1. This is the result of the merger with DBS Bank India Limited (DBIL) in November 2020. In a release, DBS said that the old IFSC codes are only valid until February 28, 2022. It had notified customers of the change so that they can receive money through NEFT/RTGS/IMPS.
Retirees who have not submitted life certificates may run into problems from March 1. The government had announced that February 28 was the last day to submit the life certificate. The deadline is normally November 30 every year, but this year it was extended twice by the government. The retirement of those who missed the deadline this year is expected to be halted and they are staring at a lengthy process to get it again.