March 1st Rule Change Warning: These big changes will affect you
Rule changes from March 1st: With the start of the new month starting tomorrow, several new rules will come into effect. These new rules will lead to several changes that will affect everyone – from the common man to the businessman. Some of the important changes relate to CNG and LPG prices, bank loan rates, social media, etc.
Here is a list of 6 major changes that will take effect from March 1st:
New portal for social media complaints
The government has launched the complaints system for complaints about social media, which will come into effect tomorrow. Information Technology Minister Rajeev Chandrasekhar launched the portal on Tuesday. This portal will follow up on the appeals of users against the decisions of social media platforms.
The interest rate on bank loans is becoming more expensive
The RBI hiked the repo rate in February, after which many banks have already increased their MCLR rates. Now Bandhan Bank has made its loan more expensive effective February 28th. Apart from that, HDFC and Punjab National Bank have also increased the lending rate. From March 1st, loans are to become more expensive.
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LPG, CNG and PNG prices will be revised
The prices for LPG bottles, CNG and PNG are revised on the 1st of each month. However, the price of household gas cylinders did not change in February.
Banking services will be restricted in March
Banks will remain closed for 12 days in March. This includes the second and fourth Saturdays, all Sundays and major festivals such as Holi, Navratri and Ram Navami. For this reason, banking services will be restricted. However, customers are unlikely to encounter any problems as most of the bank’s services are available online.
IPO is scheduled to start on March 1st
The IPO of Divgi TorqTransfer Systems, a manufacturer of automotive components, will open for public subscription on March 1st. The three-day initial public offering (IPO) ends on March 3rd.
There is a possibility that Indian Railways will revise their timetable over the course of the summer. According to reports, the timetable of several passenger trains and 5000 freight trains is to be revised from March 1st.
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