4 big changes from March 1 that will impact you directly
Many new rules will be applicable from March 1 and this may affect your monthly budget. Many important changes can be seen in the month of March, including bank loans, LPG cylinders, bank holidays etc. At the same time, changes can also be seen in the timetable of the train. Take a look at the changes.
FollowThe last day of February is quickly approaching. A number of new rules that go into force on March 1 might have an influence on your monthly budget. Bank loans, LPG cylinders, and other major developments could occur in March. At the same moment, the train schedule has also altered.
Let's talk about the new rules that will take effect in March and how they might impact your weekly expenses.
Increase in loan rates
The repo rate was recently hiked by the Reserve Bank of India. Many institutions increased their MCLR fees as a result. This would have an immediate effect on the debt and Payments. The typical individual might be troubled by the burden of EMIs and increasing loan interest rates.
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Change in gas prices
LPG, CNG, and PNG gas rates are established at the beginning of each month. Despite the fact that the price of LPG cylinders was not raised the last time, indicate that a price rise may occur this time due to the holiday.
Alteration in Indian Railways chart
As summer comes, the Indian Railways may make some timetable modifications. The roster may be made public in March. There may be changes to the timetable for thousands of commuter trains and 5,000 freight trains beginning on March 1.
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Banks to remain closed for 12 days
Banks will remain closed for 12 days including Holi and Navratri in March. This also includes weekly bank holidays. The first and third Saturdays of each month in India are still business days for banks. While the second and fourth Saturdays are holidays. According to the calendar of Reserve Bank of India (RBI) in March 2023, private and government banks will remain closed for 12 days.
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