November 1 Changes: LPG Pricing, Telecom Spam Control, and Banking Updates

November 1 Changes LPG Pricing, Telecom Spam Control, and Banking Updates

November 1 Changes: LPG Pricing, Telecom Spam Control, and Banking Updates

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Significant changes are set to take effect from November 1, 2024, affecting a range of sectors, including LPG, telecom, banking, and mutual funds. Here’s a look at six key changes that could impact consumers’ daily expenses.

1. LPG Cylinder Prices: Oil companies revise LPG cylinder prices on the first day of each month. On November 1, they may cut the price for the 14 kg domestic cylinder, which has remained stable for some time. Meanwhile, commercial cylinder prices have been rising, with a recent increase of Rs 48.50 in Delhi on October 1.

2. ATF, CNG, and PNG Rates: Air Turbine Fuel (ATF), CNG, and PNG prices could see adjustments. ATF prices have been decreasing in recent months, and another cut may be on the way due to the festive season.

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3. SBI Credit Card Rules: From November 1, new rules will apply to SBI credit cards. Unsecured SBI credit cards will now carry a 3.75% monthly finance charge. Also, a 1% surcharge will be added on utility payments over Rs 50,000, affecting electricity and gas bill payments.

4. Mutual Fund Regulations: SEBI will implement stricter insider trading rules for mutual funds. Asset Management Companies (AMCs) must report any transactions over Rs 15 lakhs made by nominees or close relatives to ensure compliance.

5. New Telecom Rules: Telecom companies, including Jio and Airtel, are instructed to implement message traceability for spam control. Companies will now block spam numbers to protect consumers from unwanted calls and messages.

6. Bank Holidays: Banks will be closed for 13 days in November due to festivals and state elections. Online banking services will remain available 24/7 for all transactions.

These regulatory changes aim to improve service quality and security but may impact consumer costs.

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