New Delhi: As the calendar flips to November, several new financial and service-related rules are set to come into effect across India. From changes in LPG cylinder prices to stricter credit card and telecom regulations, these updates are likely to affect millions of households and consumers directly.
LPG Prices May See Major Revision
Both domestic and commercial LPG cylinder rates are expected to be adjusted in early November. Reports suggest that the 14-kg household cylinder might become cheaper, while commercial cylinder prices could rise. Adjustments in CNG and PNG prices are also anticipated, potentially influencing transportation and household budgets.
New SBI Credit Card Charges Take Effect
Starting November 1, SBI Card has revised several fee structures for its users. Unsecured credit card charges will now stand at 3.75%. A 1% processing fee will apply to education payments made through third-party apps like CRED and MobiKwik. However, payments made directly via school or college portals will remain free of extra charges. Additionally, wallet top-ups above ₹1,000 will attract a 1% fee, and cheque payments will now incur a ₹200 processing charge.
SEBI Tightens Oversight on Mutual Funds
The Securities and Exchange Board of India (SEBI) has introduced stricter compliance measures for Asset Management Companies (AMCs). Any transaction exceeding ₹1.5 million, conducted by nominees or relatives of AMC employees, must now be reported to the compliance officer. The move aims to enhance transparency and protect investors.
Bank Holidays and Nominee Rules Updated
Banks across India will observe 13 holidays in November. Account holders can now nominate up to four individuals for their deposits, with the total share of all nominees adding up to 100%. This update offers greater flexibility and clarity in succession planning.
Telecom Companies Crack Down on Spam Calls
Starting November 1, telecom operators have been directed to tighten their spam control systems. They will now block spam numbers before messages are delivered, significantly reducing unwanted texts and fraudulent calls that inconvenience users daily.
With these changes, the start of November marks a crucial financial shift that could impact how consumers spend, save, and stay connected.
