The price of the 19-kg gas cylinder has been reduced by ₹34.50 from today.
The price of the 19-kg gas cylinder has been lowered by ₹34.50, providing a bit of relief to commercial users throughout India. This adjustment, effective immediately, is part of a series of five significant updates that will affect the economy and everyday life, including modified UPI transaction rules and a potential increase in air travel costs.
Effective today, the cost of the 19-kg gas cylinder—mainly utilized by restaurants, hotels, and other commercial entities—has been decreased by ₹34.50. This modification is part of the government’s regular monthly LPG price review and is anticipated to offer slight financial relief to businesses.
- Alongside the update on the 19-kg gas cylinder price, there are several important financial and regulatory changes that have come into effect today:
- New UPI Guidelines: The National Payments Corporation of India (NPCI) has launched new regulations to boost user security and facilitate high-value UPI transactions.
- Air Travel Prices May Increase: Airlines have suggested a possible rise in ticket prices due to escalating operational expenses and global fuel costs.
- Banking Updates: Several public and private sector banks have revised their service fees, ATM withdrawal limits, and minimum balance requirements.
- PAN-Aadhaar Linking Deadline: The final deadline for linking PAN with Aadhaar has expired, and non-compliance may result in penalties.
- Income Tax Portal Enhancements: The Income Tax Department has introduced a new version of its e-filing portal, featuring improved usability and faster processing times.
From today, the price of the 19-kg commercial gas cylinder has been lowered by as much as ₹34.50.
Additionally, the cost of Aviation Turbine Fuel (ATF), which is used in commercial aircraft, has risen by up to ₹2,677.88, potentially making air travel more costly.
Moreover, the daily limit for checking account balance on UPI apps is now capped at 50 times. This means you can only check your balance a maximum of 50 times in a single day.
Here are the five major changes taking place in August:
The price of the commercial gas cylinder has decreased by ₹34.50.
Effective today, the price of the 19 kg commercial gas cylinder is now reduced by up to ₹34.50. In Delhi, the new cost is ₹1,631.50, a drop of ₹33.50 from the previous price of ₹1,665. In Kolkata, the pricing has fallen by ₹34.50, resulting in a new cost of ₹1,769.
Insurance coverage on credit cards has been discontinued.
SBI has opted to eliminate the free air accident insurance that was available on certain co-branded credit cards (ELITE and PRIME) starting August 11.
Previously, this coverage ranged from ₹50 lakh to ₹1 crore and was offered in collaboration with UCO Bank, Central Bank, Karur Vysya Bank, and Allahabad Bank.
Aviation Turbine Fuel (ATF) costs have risen by 3%.
Oil marketing firms have raised the price of Aviation Turbine Fuel, or ATF, by ₹2,677.88 per kiloliter (1000L), totaling a 3% increase, which now stands at ₹92,021.93 per 1000L.
This uptick could have a direct impact on flight prices, leading to potentially more expensive airfares in the near future.
The RBI might lower interest rates by 0.25% in the upcoming policy meeting.
The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) is set to convene from August 4 to 6. During this session, Governor Sanjay Malhotra and the committee may announce a 0.25% reduction in interest rates.
In the previous meeting held in June, the RBI had already decreased the repo rate by 0.50%, lowering it to 5.50%. Another rate reduction could directly affect loan EMIs and savings account interest rates, resulting in cheaper borrowing and slightly lower returns on savings.
You can now check your bank balance no more than 50 times in a day from a single UPI application.
