Many major changes, including those related to bank rules and LPG cylinder rates, are going to take place in the month of May. The third phase of the Covid-19 vaccination drive for all adults above 18 years of age will also begin from May 1.
Here are the changes that are going to take place from May 1:
. More people will be covered under the ongoing nationwide Covid-19 vaccination programme, which started on January 16. From May 1, everyone above the age of 18 will become eligible for Covid-19 vaccines.
. On the first day of every month, the state oil companies change the price of LPG gas cylinders. Gas prices may change on May 1 as well. Currently, the price of a 14.2 kg subsidised gas cylinder in Delhi is ₹809.
. Axis Bank has decided to change the fee on various services for savings account holders from May 1. These include increasing the charge in the case of withdrawing cash from ATMs after the completion of the free transaction limit. The bank has also decided to increase the minimum balance requirement limit for various types of savings accounts. In case of cash withdrawal done after the free limit is over, the bank will charge ₹10 per ₹1,000.
. From May 1, Axis Bank customers need to maintain a monthly balance of ₹15,000. Earlier, the limit was set at ₹10,000. For the prime and liberty branded savings account, the average monthly balance is fixed at ₹25,000, up from ₹15,000.
{{/usCountry}}. From May 1, Axis Bank customers need to maintain a monthly balance of ₹15,000. Earlier, the limit was set at ₹10,000. For the prime and liberty branded savings account, the average monthly balance is fixed at ₹25,000, up from ₹15,000.
{{/usCountry}}. Axis Bank said that for salary accounts that are more than six months old and do not receive any credit in a month, a penalty of ₹100 per month will be levied from next month. Savings accounts that have been dormant for a period of 17 months will attract a one-time fee of ₹100 in the 18th month, the bank notified.
. Insurance Regulatory and Development Authority (IRDAI) has directed to double the cover amount of the Arogya Sanjeevani policy. The insurance companies have been told that they have to offer a policy with a cover amount of ₹10 lakh by May 1. In the current situation, the coverage limit commissioned from April 1 was ₹5 lakh.