Source: aajtak
As June draws to a close, and July beckons, we are on the cusp of witnessing pivotal alterations across the nation, starting from the 1st of July. These changes will directly impact everything from your household kitchen to your bank account and mobile phone. The modifications range from the prices of LPG cylinders to credit card regulations. Let's delve into five significant alterations that are tightly interconnected with your finances...
Source: aajtak
First change: LPG Prices
Oil marketing companies revise LPG cylinder prices on the first of every month, and come 6 a.m. on July 1st, 2024, we may see a notable shift. While the price for the 19-kilogram commercial gas cylinders has seen several adjustments recently, the 14-kilogram domestic cylinders used in household kitchens have remained stable for an extended period. With recent parliamentary elections and the formation of a new NDA government under PM Narendra Modi, hopes are high for a welcome drop in domestic cylinder prices this time around.
Source: aajtak
Second change - ATF and CNG-PNG Rates
The advent of the month doesn't only bring LPG cylinder price revisions, but oil companies also update the prices for aviation turbine fuel (ATF) and compressed natural gas (CNG) and piped natural gas (PNG). Thus, come the first day, we might witness a new pricing structure. Significantly, reduced ATF prices could spell relief for air travelers, while a decrease in CNG prices promises to lighten the financial burden on vehicle owners.
Source: aajtak
Third change: Credit Card Bill Payments
For credit card users, July 1st, 2024, is a key date as major changes related to credit card payments are set to take effect. Post-July, paying bills through certain platforms may become troublesome. Financial tech entities like CRED, PhonePe, and BillDesk are among those affected. According to the RBI's new regulations, all credit card bill payments from July 1st must be routed through the Bharat Bill Payment System (BBP). Consequently, all will need to adapt to billing via BBPS.
Source: aajtak
Fourth change: SIM Card Port Rules
With a focus on security, TRAI has been continually revising regulations. July 1st, 2024, marks the date for the latest change to SIM card-related rules. TRAI has decided to reform mobile number portability (MNP) regulations to prevent SIM swap fraud. Under the new rules, in case of a stolen or damaged SIM card, customers will have to wait a little. Previously, a replacement SIM could be immediately obtained from a store, but now, a locking period has been instituted, requiring users to wait 7 days.
Source: aajtak
Fifth change: PNB Bank Account Changes
The fifth considerable modification next month pertains to Punjab National Bank customers. If you have a PNB account that has been dormant for years, it may get deactivated after July 1st, 2024. The bank has consistently been issuing alerts via social media that accounts with zero balance and no transactions in the past three years need KYC updates at a bank branch before June 30th; failing to do so will result in deactivation after July 1st.
