Several important financial and regulatory updates took effect across India on June 1, affecting digital payments, commercial fuel costs and tax obligations.
Government agencies and the National Payments Corporation of India introduced the measures to strengthen transaction security and meet fiscal goals.
UPI
High-value transfers on major apps such as Google Pay, PhonePe and Paytm now require two-factor or biometric verification. Users must confirm payments through facial recognition or fingerprints instead of PINs alone.
UPI services are required to show the recipient’s registered bank name on a confirmation screen before the PIN is entered. In addition, cash withdrawals at ATMs without cards using UPI will be counted within the monthly free transaction quota, after which standard charges apply.
Commercial LPG Hiked
Oil marketing firms raised prices for commercial cylinders. A 19-kg unit increased by Rs 42 in Delhi to Rs 3,113.50 and by Rs 53.50 in Kolkata. Household LPG rates stayed the same.
The Petroleum Ministry also introduced rules requiring consumers who switch to piped natural gas to surrender their LPG connections within 30 days.
Advance Tax and New Regime Benefits
The Income Tax Department reminded taxpayers that the first advance tax instalment for 2026-27 is due by June 15. Individuals and businesses whose estimated liability exceeds Rs 10,000 must pay 15 percent by the deadline to avoid interest.
Under the revised tax framework, families opting for the older regime can claim higher exemptions on children’s education and hostel allowances as well as an increased House Rent Allowance benefit in several major cities.
Car Prices
Several carmakers raised vehicle prices effective June 1 because of higher input costs. Maruti Suzuki increased prices by up to Rs 30,000 across its range.
