Changes in the Rates to be seen in the Market from October

The Government has been trying to make revolutionary changes in the market by launching new rules and acts. Since then there have been certain changes in the prices of goods sold in the market, from bank accounts, telecom sector, and toll plazas.

Following are the changes that you may come across:

• Since Goods and Services Tax (GST) has been implemented, the merchants can sell the old MRP by putting a sticker on the old stuff till September 30. From 1st October, every item in the market will be available at the new MRP.

• Telecom Regulatory Authority of India (TRAI) has reduced the interconnection usage charge by more than half. From October 1 this rate will be reduced from 14 paise per minute to 6 paise per minute. You can get the advantage of this as a cheap call.

• Fast tagged Vehicles will not be able to run on all the toll plazas built on National Highway from October 1st. A dedicated fast lane has been prepared on all toll plazas. Fast tag sticker will be affixed to car windshield when the car crosses in National Highway and passes through Fast tag lane – the RFID reader will automatically scan the RFID without any need of stopping the car on toll booth for payment of toll.

• No fee will be charged if the account is closed in State Bank of India (SBI), provided the account is 1 year old. If an account is closed 14 days after opening the account and one year before it is closed, then it will have to pay Rs 500 and GST.

• In case someone has checkbooks of merged banks in SBI, it is mandatory that they must change it. The old checkbooks and IFSC codes of these banks will not be valid after September 30.

• SBI has reduced the minimum balance limit in metro cities from Rs 5,000 to Rs 3,000. This will be beneficial for about five crore account holders.

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