As we enter the month of June, a few services are going to get costlier. This will happen at a time when inflation has risen dramatically due to a rise in input costs. The coronavirus pandemic and the geopolitical situation have only exacerbated the situation. How will these changes affect us? If you own a vehicle or are planning to buy a new one, then the insurance premium is set to rise from June 1. Besides, a few banks have announced changes in some categories of services.

Here’s a list of those changes and how they will impact:

Insurance Premiums

Last week, the Ministry of Road Transport and Highways (MoRTH) announced it has increased the third-party motor insurance premium for various categories of vehicles. It said the new rates will come into effect from June 1.