Source: aajtak
As September ends and October 2024 begins, several significant changes will come into effect from October 1. These changes, ranging from LPG cylinder prices to credit card rules and modifications in Sukanya Samriddhi and PPF accounts, will impact your household expenses and budgets. Let's explore these 5 major changes in detail...
Source: aajtak
First Change: LPG Prices
Oil marketing companies revise LPG cylinder prices on the first day of every month. The new prices, effective from 6 AM on October 1, 2024, may see a revision. While commercial gas cylinder prices have fluctuated in recent months, the price of the 14 kg domestic gas cylinder has remained stable.
On IOCL's website, you can see that from Delhi to Mumbai, the price of a 19 kg commercial gas cylinder increased from September 1, 2024. In Delhi, it went from ₹1652.50 to ₹1691.50 per cylinder, a hike of ₹39. In Kolkata, it rose from ₹1764.50 to ₹1802.50, in Mumbai from ₹1605 to ₹1644, and in Chennai from ₹1817 to ₹1855. There is hope for a price reduction in domestic gas cylinders before Diwali.
Source: aajtak
Second Change: ATF and CNG-PNG Prices
Alongside LPG cylinder prices, oil marketing companies also update the prices of aviation turbine fuel (ATF) and CNG-PNG on the first day of each month. The new prices might be revealed on October 1, 2024. Last September, ATF prices were reduced. In Delhi, the price dropped from ₹97,975.72 per kiloliter in August to ₹93,480.22 per kiloliter. In Kolkata, it fell from ₹100,520.88 to ₹96,298.44, in Mumbai from ₹91,650.34 to ₹87,432.78, and in Chennai from ₹101,632.08 to ₹97,064.32.
Source: aajtak
Third Change: HDFC Bank Credit Cards
The third change involves HDFC Bank's credit cards. If you're an HDFC Bank customer, note that the loyalty program for certain credit cards will be updated. Effective from October 1, 2024, reward points redemption for Apple products on the SmartBuy platform will be limited to one product per calendar quarter.
Source: aajtak
Fourth Change: Sukanya Samriddhi Scheme Rule Change
The central government's Sukanya Samriddhi Scheme, designed especially for daughters, is undergoing a significant rule change starting October 1, 2024. From then on, only legal guardians can operate these accounts. According to the new rules, if an SSY account was opened by someone other than the girl's legal guardian, it must be transferred to the natural parents or legal guardian. Failure to comply can result in the account being closed.
Source: aajtak
Fifth Change: PPF Three Rule Changes
The Public Provident Fund (PPF) scheme, managed under the post office's small saving schemes, will see three major changes effective from October 1, 2024. The Department of Economic Affairs under the Ministry of Finance issued guidelines on August 21, 2024, detailing new rules. Actions will be taken against those holding multiple accounts.
Irregular accounts will be paid interest from post office savings account (POSA) until the individual (minor) becomes eligible to open the account, i.e., until they turn 18. The maturity period will be calculated from the date the minor becomes an adult, marking their eligibility to open the account.
