India Post Payment Bank (IPPB) will implement the closure charges for its digital accounts this month. “The charges shall be applicable only in case the Digital Savings Bank (DGSB) account is closed at the end of one year period due to non-updation of KYC,” it said in a statement. The users will be charged ₹ 150 (plus GST) for the closure of digital accounts and the new rule will come into effect from March 5, 2022.
Amul has increased the price of its pasteurized milk packet by ₹ 2. Gujarat Co-Operative Milk Marketing Federation (GCMMF), which markets products under the Amul brand, said this increase has been implemented across the country from March 1. Parag Milk Foods Limited has also raised the price of its Gowardhan brand of cow milk by ₹ 2 per litre from today.
Oil marketing companies (OMCs) have increased the price of 19kg commercial LPG cylinders by ₹ 105 in Delhi and ₹ 108 in Kolkata. The price of 5kg commercial LPG cylinder has also been hiked by ₹ 27. With this increase in prices, a 19kg commercial cylinder will cost ₹ 2,012 in Delhi and ₹ 2,095 in Kolkata respectively from March 1. There has been no change in the rates of domestic cylinders.
Jet fuel prices on Tuesday were increased by 3.3 per cent to all-time high levels across the country, in step with international oil prices surging to over seven-year-high. This is the fifth hike in jet fuel or Aviation Turbine Fuel (ATF) prices this year following an unrelenting rise in global oil prices. However, petrol and diesel prices remained unchanged for a record 116th day in a row.
The IFSC codes – used to transfer money digitally – of Lakshmi Vilas Bank (LVB) will be changed from March 1. This is the result of its merger with DBS Bank India Limited (DBIL) in November 2020. In a release, DBS had said that the old IFSC codes will be valid only till February 28, 2022. It had notified customers of the change so that they are able to receive funds via NEFT/RTGS/IMPS.