Aug 30, 2024 07:30 PM IST
September 2024 will see several important changes which will impact personal finance and affect everything from LPG cylinder prices to credit card regulations
September 2024 will see several important changes which will impact personal finance and affect everything from LPG cylinder prices to credit card regulations.
Also Read: India’s GDP growth moderates to 6.7% in Q1 2024-25, lowest growth in five consecutive quarters
Which are the top five changes to watch out for in September?
1. Free Aadhaar update extension
The Unique Identification Authority of India (UIDAI) has extended the free Aadhar update period to September 14, 2024, giving more time to update demographic information.
To update it, valid proof of identity and address documents must be uploaded to the UIDAI portal.
2. LPG cylinder price changes/Adjustments
Both domestic as well as commercial users of LPG must watch for price changes, and this is especially true for commercial users who rely on bulk usage of LPG as that would significantly impact business costs.
Also Read: Deposit cash in ATMs using UPI, new feature launched by RBI, steps to use
3. Changes in CNG-PNG and aviation fuel prices
Aviation turbine fuel (ATF) and CNG-PNG prices are expected to get revisions, affecting transportation costs, especially for air travel, and could thus, have a trickle-down effect on goods and services due to increased transport expenses.
4. Crackdown on Fraudulent Calls
The Telecom Regulatory Authority of India (TRAI) is introducing new measures to curb the increasing number of fraudulent calls and spam messages, with telemarketing services expected to gradually shift to a blockchain-based system by September 30, enhancing security and reducing unsolicited calls and messages.
5. Credit Card Regulations
New credit card rule changes, especially related to reward points and payment schedules are expected to come. For example, HDFC Bank will cap reward points on utility transactions, which means that users may actually earn fewer rewards while paying for services such as electricity or water. IDFC First Bank is updating payment schedules, which could potentially impact when and how payments are processed.
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