From LPG prices to RTGS timings, check here for major changes in December

As the month of December is near, many crucial changes will take place that will change the life of the common man significantly. Therefore it is imperative that we list some of these changes that might vastly impact the lives of majority of Indian citizens.

Here are certain important changes:

1. Price of LPG may change

It is to be noted that every month LPG price in India is revised by the state-run oil companies on a monthy basis. In the month of December, the prices of cooking gases will change in the country.

This is crucial as the majority of households in India have LPG connections, and is mainly used for cooking purposes. It is expected that there will be more relief to customers this month by further bringing down LPG prices.

It is to be noted that domestic LPG prices have been kept constant to provide relief to the people during the COVID-19 pandemic. Any increase in the Domestic LPG prices will have a huge impact on the lives of the common people.

2. Premium amount can be changed by the insurance holder

The insured will be able to reduce the premium amount by 50 percent. Thus the insurance holder will be able to sustain his policy with only half the installment.

3. New trains will start running in the month of December

New trains like the Jhelum Express and Punjab Mail from December 1. trains will be run under the normal category only. 01077/78 Pune-Jammu Tawi Pune Jhelum Special and 02137/38 Mumbai Ferozepur Punjab Mail Special trains will be run every day.

During the coronavirus crisis, rail services stopped for a certain period of time. Now that the country is in the unlock phase, with more restrictions being eased, more trains are running under normal schedule.

4. Changes in Real-Time Gross Settlement

The Reserve Bank of India had in October 2020 said that Real Time Gross Settlement System (RTGS), used for large value transactions, will be made available round-the-clock from December 2020 instead of 7 am to 6 pm on all working days of a week, except second and fourth Saturdays of every month. Announcing the bi-monthly RBI Monetary Policy decision, RBI Governor Shaktikanta Das had said, customers will get round-the-clock availability of Real Time Gross Settlement (RTGS) System. RTGS is a financial transaction system, where there is continuous and real-time settlement of fund transfers, individually on a transaction-by-transaction basis. RTGS transactions or transfers have no amount cap.