New Delhi, May 31: As June begins, significant changes will impact the daily lives and financial planning of the public. These changes will affect everything from gas cylinder prices to digital payments and banking services. It is crucial to be aware of these updates before June 1.
A major shift in UPI transactions is set to occur. Starting June 1, the actual registered name of the bank will be displayed on the screen when transferring money via UPI. This initiative, introduced by the National Payments Corporation of India (NPCI), aims to reduce fraud.
For taxpayers, June 15 is a critical date. It marks the deadline for submitting the first installment of advance tax for the financial year 2026-27. Those with an estimated tax liability exceeding ₹10,000 must pay 15% of the total advance tax; failure to do so may result in interest penalties.
From June 1, car manufacturers like Maruti Suzuki and Hyundai Motor India have announced price hikes. Maruti Suzuki will increase prices by up to ₹30,000 across all models, with variations depending on the model and variant. The company cites rising input costs and inflation as reasons for this decision.
Similarly, Hyundai Motor India plans to raise prices by up to ₹12,800 across its entire portfolio, attributing the increase to higher raw material, commodity, and operational costs.
Additionally, the government reviews petrol, diesel, and LPG prices on the first of each month. Therefore, changes in fuel prices may also be expected on June 1.
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