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1st June Updates: Know 5 Big Changes Implemented in the Country From Today

Banks will give your money back- Starting from today, banks will commence the ‘100 Days 100 Pay’ campaign, as directed by the Reserve Bank of India (RBI). Under this initiative, each bank in every district will return the top 100 unclaimed deposits within 100 days.

Addressing Unclaimed Deposits

Banks are launching this campaign to address and settle unclaimed deposits, starting from June 1. Unclaimed deposits refer to savings or current accounts that have remained inactive for 10 years or fixed deposits that have not been claimed within 10 years from the date of maturity.

Increased Car Prices

In a recent development, Honda has joined the list of car manufacturers raising prices due to escalating input costs. Honda Cars India has announced a price hike of up to one percent for its popular models, City and Amaze, effective from June. The extent of the price hike will vary based on the specific variant.

Increase Costs of Electric Scooters

Starting from June 1, 2023, the prices of electric two-wheelers in India have surged. This change comes as the customer incentive, in the form of a discount, has been reduced from 40 percent to 15 percent. This significant reduction will result in higher prices for electric vehicles. Therefore, if you plan to purchase an electric scooter, it is advisable to make your booking before June 1.

New Rule for Cough Medicines

Following concerns raised globally regarding cough medicines produced by Indian pharmaceutical companies, the government has made a significant decision. Exporters of cough syrups are now required to test their products in a government laboratory before exporting them. This rule will be effective from June 1, and the Directorate General of Foreign Trade (DGFT) has issued a notification regarding this matter.

New Prices for LPG Gas Cylinders

With the arrival of June, the sixth month of 2023, government-owned companies in India have announced new prices for LPG cooking gas cylinders. Indian Oil has made a substantial reduction in the price of commercial gas cylinders starting from today.

Indian Oil has shared this information on its website, stating that the new prices will be applicable from June 1. Earlier in May, the price of commercial gas cylinders was also reduced. However, there have been no changes in the price of LPG cylinders.


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