November 1 brings several financial changes; Will the change affect your Wallet too?

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• Oct 31, 2024 | Sampreeti Bhuyan

From tomorrow, November 1, changes are going to be implemented in the prices of many commodities as well as in several financial rules.

Digital Desk: Today is the last day of October and India is celebrating the festival of lights. From tomorrow, November 1, changes are going to be implemented in the prices of many commodities as well as in several financial rules. All these will impact the financial situation of the commoners. What rules and prices are likely to change this November?

1) LPG cylinders: Rates for LPG cylinders increase at the beginning of every month. The major oil marketing companies in the country decide on their rates. Prices of commercial cylinders have been increased for the past three months. In October, commercial cylinders were increased by Rs The price of 14 kg cylinders is going to reduce this year.

2) ATF and CNG-PNG: The ATF and CNG-PNG prices will be revised on November 1, 2024. LPG cylinder prices have also been revised. In the last few months, the ATF has been coming down. This year, too, prices are likely to fall.

3) SBI Credit Card: The credit card rules in the country's largest state-owned bank SBI have changed drastically. From November 1, the finance charge on the unsecured credit cards from SBI is going to be 3.75 percent. Now on the same day, with an overpayment of as little as Rs 50,000 in utility services, an extra 1 percent is going to be charged.

4) Mutual Funds: The mutual funds market regulator, SEBI, has enhanced rules governing insider trading in this particular market. Hereby, nominees of AMCs or their family members shall disclose all deals whose value is higher than Rs 1.5 lakh.

5) Telecom operators: From November 1, the telecom sector rules will change. New TRAI rules for the telecom sector come into effect from November 1. Under the new rules, telecom operators-JIO, and Airtel-are bound to implement the message traceability rules. All companies would block the spam numbers. The number can be blocked by putting the message in the spam list before reaching the user of the company.

6) Bank Holidays List: Altogether, the bank holidays for November amount to 13, in view of various festivals and public holidays. Even the banks will be on holiday as the Assembly polls in Maharashtra and Jharkhand are scheduled for this month. RBI announces the bank holidays list for November.