February is about to end and some new laws will come into effect on March 1, which may have an impact on your monthly budget. Several significant changes are possible in March, including social media, bank loans, LPG cylinders, bank holidays, and so on. Besides this, changes in the train schedule is also expected next month.
Rules to Change in March 2023
Bank Loan to Get Expensive
The Reserve Bank of India just increased the repo rate. After this, several banks raised their MCLR rates. This will have a direct impact on the loan and EMI. Loan interest rates may rise, increasing the cost of EMIs on the average person.
LPG and CNG Prices May Increase
The pricing of LPG, CNG, and PNG gas is set at the beginning of each month. Although the price of LPG cylinders was not raised last time, it is likely to be raised this time due to the festival.
Changes in Train Timetable
At the same time, as summer approaches, the Indian Railways may make some alterations to the timetable. Its list is expected to be issued in March. According to media sources, the schedules of thousands of passenger trains and 5,000 goods trains can be changed beginning March 1.
Banks to Remain Closed for 12 Days in March
Banks will be closed for 12 days in March, including Holi and Navratri. This includes weekly bank holidays as well. On the first and third Saturdays of each month, banks in India remain open. Although banks are closed on the second and fourth Saturdays. According to the Reserve Bank of India's (RBI) schedule, private and government banks will be closed for 12 days in March 2023.
Aarti At Kashi Vishwanath Temple Will Get Costlier
In Varanasi's Kashi Vishwanath temple, Baba's aarti has become too pricey. Devotees will have to pay Rs 150 extra for Mangala Aarti than previously. Formerly, aarti here cost 350 rupees, but it will soon cost 500 rupees. Apart from that, tickets for Saptarishi Aarti, Shringar Bhog Aarti, and Madhyahna Bhog Aarti would cost Rs 120 extra. It was formerly priced at Rs 180, but it will now cost Rs 300. This new rule will go into effect on March 1, 2023.
Possible Change in Rules Related to Social Media
The Government of India recently changed the IT rules. Social media platforms such as Twitter, Facebook, YouTube, and Instagram will now be required to meet India's new laws. This new regulation will take effect in March. Users may also face fines for making incorrect postings.
