Major Changes and news rules being implemented from 1 May 2019

Changes and news rules from 1 May 2019 have been announced by the State Bank of India, Indian Railways, Punjab National Bank and Air India. Changes in the price of LPG cylinder have also been made. Check out the new applicable rules, rates and policy changes here.

Changes and news rules from 1 May 2019

State Bank of India

State Bank of India

If you are an SBI customer then you must know that SBI has introduced some new rules that are going to be implemented from 1st May 2019.:

  • All the saving account holders of SBI will now get low interest on deposits that are above Rs.1 lakh.
  • For deposits up to Rs.1 Lakh, the bank will give an interest rate of 3.50 % per annum, while for deposits of more than Rs.1 Lakh, the interest rate will be 3.25 %.
  • From 1st May 2019, SBI will link its key pricing decision for savings bank deposits and short-term loans to the repo rate of the Reserve Bank of India (RBI).
  • SBI is the only bank to put this practice in place. This would mean that the customers can also look to reduced EMIs.

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Punjab National Bank

Punjab National Bank

  • The second change that was going to be implemented from 1 May is also linked to the banking sector.
  • Punjab National Bank (PNB) is going to shut down its digital wallet PNB kitty from 1st May.
  • The customers of the bank were told due in advance to either spend all the money in their digital wallet or transfer the amount to their bank account before 30th April.
  • So, from 1st May onwards, the PNB digital wallet is unavailable.

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Changes and news rules from 1 May 2019

Indian Railway system

Indian Railway system

  • Indian railway has introduced a plan for their passengers which is going to be implemented across the entire Indian Railways from May 1.
  • Passengers will now be able to change and manage their boarding station till four hours before the scheduled departure of the train, that is, till the time of the chart preparation. The duration earlier was till 24 before the train departure.
  • This facility will, however, have no impact on the refund or cancellation charges.

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Air India

Air India

  • Air India has decided that from May 1, if a customer wants to cancel his/her ticket or make any changes in it within 24 hours of booking, they will not be charged any fee.
  • But, this facility will only be available if the flight is scheduled at least seven days after the booking date.
  • It has been decided that for sale and travel, all domestic tickets will have the free look-in option for change and cancellation as prescribed by the DGCA.

LPG

LPG

  • Subsidised LPG prices have been increased by 28 paise per cylinder in Delhi and 29 paise per cylinder in Mumbai.
  • Rates for the non-subsidised cylinders have been increased by Rs.6 per cylinder in both the cities.
  • New LPG Cylinder rates – Non-subsidised cylinder price*
    • Metro Price per cylinder (14.2 Kg)
    • Delhi Rs. 712.50
    • Kolkata Rs. 738.50
    • Mumbai Rs. 684.50
    • Chennai Rs. 728.00
  • New Subsidised LPG cylinder price*
    • Metro Price per cylinder (14.2 Kg)
    • Delhi Rs. 496.14
    • Kolkata Rs. 499.29
    • Mumbai Rs. 493.86
    • Chennai Rs. 484.02

*Source:iocl.com

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