Athira Sethu
Kochi, 1 June 2026
June appears to be an uneventful month without any festive season or bonuses or other financial events. However, there are some events that are taking place during this month that could have an impact on your finances and other aspects.
One such event is the Monetary Policy Committee meeting by the Reserve Bank of India (RBI), which is scheduled from June 3 to June 5. At this monetary policy meeting, the Reserve Bank decides whether to increase or decrease interest rates. Even if interest rates are kept unchanged, the statements made by the Reserve Bank regarding inflation, economy, and liquidity attract attention.
Another significant date comes next month on June 15; it marks the first advance tax payment due date for the financial year 2026-27. This date is quite significant for freelancers, traders, businesspersons, and those earning additional income alongside their salaries.
At the same period, employees who earn salaries get their Form 16 from their respective employers. The significance of this document lies in the fact that it contains all the important details related to salary, tax deduction at source (TDS), among other important tax-related matters. Form 16 is considered the starting point for tax filing.
The month of June is also significant for those investing in savings schemes. The government makes changes to the interest rate on a quarterly basis for schemes like PPF (Public Provident Fund), NSC (National Savings Certificate), SCSS (Senior Citizens Savings Scheme), and post office deposits. The rates could either go up, down, or remain static depending upon the situation.
Another thing worth noting is the price of fuels like petrol, diesel, and CNG. These prices could either increase or decrease depending upon the cost of crude oil in international markets. Any slight increment in the price of fuel will result in increased costs of transport and delivery.
It is possible that global affairs may also affect fuel prices. The market will be keeping a close watch on the developments between the USA and Iran. In case there are any more tensions, the price of crude oil may go up, resulting in increased prices of fuels in India.
Even though June might seem like a quiet month, these financial news updates may have a major effect on your finances.
