As October ends and November begins, several rule changes will come into effect on November 1, impacting everyday expenses. Here’s a look at six major changes:
1. LPG Cylinder Prices: Each month, oil companies revise LPG prices. On November 1, they may adjust prices for the 14 kg domestic cylinder, which has remained stable recently. Commercial cylinder rates, however, have been rising, with the last increase of Rs 48.50 in Delhi on October 1.
2. ATF, CNG, and PNG Rates: Oil companies also adjust rates for air turbine fuel (ATF), CNG, and PNG on the first of each month. Recent months have seen a drop in ATF prices, and a festive reduction is anticipated this time. CNG and PNG rates could also change.
3. SBI Credit Card Rules: SBI Card, a subsidiary of State Bank of India, will implement changes for credit card users. Starting November 1, unsecured SBI credit cards will carry a monthly finance charge of 3.75%. Additionally, payments above Rs 50,000 for utilities like electricity and gas will incur a 1% fee.
4. Mutual Fund Regulations: SEBI, the market regulator, will introduce stricter insider trading rules for mutual funds. From November 1, AMCs will need to report transactions above Rs 15 lakhs involving nominees or relatives to compliance officers.
5. New Telecom Rules: The government has instructed telecom providers like Jio and Airtel to implement message traceability to curb spam. Telecom companies will block spam numbers, restricting their messages from reaching users.
6. Bank Holidays: Banks will be closed for 13 days in November due to public holidays and elections. However, online banking services will remain available 24/7 for users to manage their transactions.
These changes aim to regulate various sectors and may affect consumer expenses and access to services.
