Six Major Financial Changes In November: LPG, Mutual Funds, Telecom Spam Blocking And More

As October comes to a close and November approaches, significant changes in the financial landscape are on the horizon. From potential adjustments in LPG cylinder prices to revised credit card rules, households can expect their budgets to be impacted by several key updates starting November 1.

One of the most anticipated changes is the announcement of revised rates for LPG cylinders by petroleum companies. Consumers are hopeful for a reduction in the price of 14 kg domestic cylinders, which have remained stable for some time. On the other hand, commercial LPG cylinders (19 kg) have seen consecutive monthly price hikes, with a cumulative increase of Rs 94 over the past three months.

In addition to LPG cylinder price updates, fuel companies will also adjust rates for aviation turbine fuel (ATF) and CNG-PNG on November 1. Recent months have seen a decline in ATF prices, with expectations of further reductions. Significant adjustments in CNG and PNG prices may also be on the horizon.

SBI Card users will also experience important updates from November 1, with changes affecting utility bill payments and finance charges. Finance charges for unsecured SBI credit cards will increase to 3.75% per month, and payments exceeding Rs 50,000 for utility services will incur an additional 1% fee.

The telecom sector will see changes as well, with TRAI mandating all telecom operators to implement message traceability to block spam numbers. This directive aims to filter spam messages before they reach SIM users.

Furthermore, November will bring 13 bank holidays across various regions due to festivals, public holidays, and assembly elections. Customers are advised to utilize online banking services during this period.

Lastly, SEBI will implement stricter rules for mutual funds starting November 1 to curb insider trading. Compliance officers must disclose transactions exceeding Rs 15 lakh made by nominees and their close relatives in funds managed by asset management companies, increasing transparency and accountability in the mutual fund industry.

Overall, November is set to bring significant financial changes that will impact households and businesses alike. Stay tuned for updates on these developments as they unfold.