As June comes to an end and July approaches, several changes are set to take effect in the country from July 1. These changes may directly impact your household, finances, and mobile phone. Here are five key changes to be aware of:
LPG Prices:
The prices of LPG cylinders are revised by oil marketing companies at 6:00 a.m. on the first day of every month. While the prices of commercial cylinders have fluctuated, the prices of domestic cylinders used for household kitchens have remained stable. With the recent Lok Sabha elections and the formation of a new government, people are anticipating relief in the prices of domestic cylinders this time.
ATF and CNG PNG Rates:
On the first of every month, oil marketing companies also adjust the prices of airport fuel (ATF) and compressed natural gas (CNG) for vehicles. Reductions in ATF prices could benefit air travel, while lower CNG prices could reduce expenses for vehicle owners.
Credit Card Bill Payment:
Starting from July 1, 2024, a significant change related to credit card payments will be implemented. All credit card bill payments will need to be made through the Bharat Bill Payment System (BPS) as per RBI regulations. This may impact bill payment through platforms like CRED, PhonePe, and BillDesk.
SIM Card Porting Rule:
The Telecom Regulatory Authority of India (TRAI) is making changes to the rules governing SIM cards to enhance security. As of July 1, 2024, the implementation date for these changes, there may be an extended linking period of 7 days in case of SIM card theft or damage to prevent unauthorized SIM swaps.
PNB Bank Account Changes:
Punjab National Bank (PNB) customers should take note that accounts with no transactions and zero balances for the past 3 years may be closed on July 1, 2024, if KYC requirements are not met by June 30. The bank has been notifying customers through social media to ensure compliance to avoid closure of such accounts.