Tag: HALLMARKING

Must Read: These Six Big Changes From Today

SBI’s Home Loan Costlier

The country’s largest bank State Bank of India (SBI) will increase its internal benchmark lending rate (EBLR) by 0.4 per cent to 7.05 per cent. Whereas RLLR will be more than 6.65 per cent. According to SBI’s website, the 10 bps increase in MCLR will also be applicable from June 1.

Expensive Third Party Motor Insurance Premium

The Ministry of Road Transport and Highways has increased the premium for third party motor insurance for various categories of vehicles with effect from June 1, 2022. This means that it will become costly for common people to insure their cars and bikes. However, a 15 per cent discount has been given on third party insurance premium for electric vehicles (e-vehicles) and educational institution buses.

Axis Bank Hikes Minimum Balance

Axis Bank has increased the average monthly balance. Now instead of 15 thousand, 25 thousand rupees will have to be kept as a minimum balance. Less than this will incur a fee. This rule will be applicable to the accounts of semi-urban and rural areas. Now a minimum of one lakh rupees rule has been imposed in the form of term deposit.

Gold Hallmarking

The second phase of hallmarking of gold jewellery and artificial jewellery will start from June 1. In this, 256 districts have been declared earlier while there will be 32 new districts. In these 288 districts, only 14, 18, 20, 22, 23 and 24-carat jewellry will be sold. Hallmarking will be mandatory on these.

Must Read: Second Phase Of Gold Hallmarking

Let us tell you that the second phase of gold hallmarking will be started from June 1, 2022. While sharing this information in the past, the government had said that from the beginning of June, the second phase of gold hallmarking will be started, under which it will be necessary to prove the purity of gold.

Three Additional Carats And 32 New Districts

According to the report, the Consumer Affairs Ministry said that three additional 20, 23 and 24 carats of gold jewellery and 32 new districts will also come under the purview of the second phase of mandatory hallmarking. Let us inform here that the first phase was started by the nodal agency Bureau of Indian Standards (BIS) by implementing mandatory gold hallmarking in 256 districts of the country from 23 June 2021. According to the report, more than 3 lakh gold jewellery is being hallmarked with Hallmark Unique Identification (HUID) every day in these districts.