Key Financial and Service Changes Effective November 1: Impact on LPG, Banking, Credit Cards, and More

New rules across various sectors impact daily expenses, banking services, and travel for consumers.

Trending, Service Changes Effective November 1, New rules across various sectors impact, New rules across, consumers, business news, daily business news, top business news- True Scoop

As of November 1, 2024, numerous regulatory changes in LPG pricing, credit card charges, banking rules, and other services have taken effect. These updates are set to impact consumers' budgets and service accessibility. Here are the major changes to be aware of:

LPG Price Hike for Commercial Cylinders

The price of a 19kg commercial LPG cylinder has increased by Rs 62. New rates for commercial LPG cylinders are as follows:

  • Delhi: Rs 1802 (up from Rs 1740)
  • Kolkata: Rs 1911.50 (up from Rs 1850.50)
  • Mumbai: Rs 1754 (up from Rs 1692.50)
  • Chennai: Rs 1964 (up from Rs 1903)

No price changes have been made for the 14.2 kg domestic cylinders.

ATF Price Revised

Air Turbine Fuel (ATF) prices, which have seen reductions in recent months, have increased this month, with the new price in Delhi now set at Rs 90,538.72 per kilolitre.

SBI Credit Card Rule Update

SBI Card, a subsidiary of State Bank of India, has updated its rules effective November 1. A finance charge of 3.75% monthly will be applied on unsecured credit cards. Additionally, utility bill payments exceeding Rs 50,000 will incur an extra 1% charge.

New Domestic Money Transfer Rules by RBI

The Reserve Bank of India (RBI) has implemented new Domestic Money Transfer (DMT) guidelines to prevent banking fraud. These rules are aimed at improving the safety and transparency of domestic fund transfers.

UPI Lite Platform Enhancements

UPI Lite users can now make higher transaction volumes, as RBI has increased transaction limits and introduced an auto top-up feature for balances below a certain threshold, enhancing user convenience.

Reduced Bank Working Days

Banks will be closed for 13 days in November due to scheduled holidays. Customers are encouraged to use online banking services, which remain accessible 24/7.

Changes in Train Ticket Reservation Period

The Indian Railways has shortened its advance reservation period from 120 days to 60 days, excluding the travel day. This aims to streamline ticket booking and increase convenience for passengers.

Consumers are advised to review these new regulations to manage their financial activities effectively and avoid disruptions to their daily routines.


Trending