Photo Source; Babushahi Bureau
Major changes from June 1: What it means for your pocket
Babushahi Bureau
Chandigarh, June 1, 2025: As of June 1, several important policy and financial changes have come into effect across India, directly impacting the common man’s expenses and financial planning. From LPG prices to UPI rules, here’s what’s changing:
1. Commercial LPG Cylinder Price Reduced
The price of the 19-kg commercial LPG cylinder has been slashed by ₹25.50. This comes as a relief to restaurant and business owners who use commercial gas cylinders extensively.
2. EPFO to Allow PF Withdrawals via ATM & UPI
According to media reports, the Employees’ Provident Fund Organisation (EPFO) may soon allow employees to withdraw their PF savings directly via ATMs and UPI under the upcoming EPFO 3.0 policy draft. This will provide easier and faster access to retirement funds.
3. Suryaoday Small Finance Bank Cuts FD Interest Rates
Effective June 1, Suryaoday Small Finance Bank has revised its Fixed Deposit (FD) interest rates:
- General public: 4% to 8.4%
- Senior citizens: 4.40% to 8.80%
- This move could affect the investment returns of FD holders.
4. New SEBI Cut-Off Timing for Mutual Funds
SEBI has introduced new cut-off timings for overnight mutual fund schemes:
- Offline transactions: 3 PM
- Online transactions: 7 PM
- Any orders placed after these times will be processed on the next working day.
5. UPI Name Display Rule
NPCI has implemented a new rule for UPI payments. From now on, users will only see the real bank account name of the ultimate beneficiary during a transaction. QR codes or custom-edited names will no longer appear. All UPI apps must implement this rule by June 30.
6. Aviation Turbine Fuel (ATF) Price Reduced
Oil marketing companies have reduced ATF prices. According to Indian Oil’s website, the ATF price in Delhi has been cut by ₹2,414.25, now standing at ₹83,072.55 per kiloliter. This reduction is expected to make air travel more affordable.