Financial Rules Change from 1st October: As we step into October 1, there is going to be a sea of change in most of the regulations, and it is going to directly or indirectly hit your pocket. From LPG prices to credit card rules, you must know about the changes which are going to affect you. Here’s a closer look at the changes:
Changes in LPG Prices
The price of LPG is reviewed on every first day of the month by the oil companies. The cost of cylinder gas both at home and in commercial may change, but its hike, decrease, or even stability was not sure this month. Declared in the morning of the first day of the month of October, new prices are marked to allow consumers to know how their expenses will be changed for the month.
ATF and CNG-PNG Price Revision News
The ATF and CNG-PNG rates would also be re-tuned. These hikes charged at the beginning of each month may escalate travel costs. For instance, higher ATF rates might make traveling by air pricey, while increased CNG prices may raise the cost of traveling by bus and auto. If PNG advances further, then that household based on piped gas will find its utility bill enhanced.
HDFC Credit Card Changes
In association with HDFC Bank credit card holders, changes have come into force from October 1. For HDFC Bank, it will change the loyalty program of the bank. Reward points made through SmartBuy for Apple product purchases are only redeemable once within a calendar quarter. That means cardholders think before they buy and reward with maximum impact.
Minimum Wages Hike
The minimum wages, that are to be applicable from October 1, have been hiked in multiple fields according to the central government. The central government has set a daily allowance of ₹1,035 for the unarmed guards. The central government has fixed a per diem wage at a minimum level of ₹783 for construction and cleaning workers. Semi-skilled workers are to be paid ₹868 and skilled workers ₹954 as a daily wage. The hike in these wages is for the benefit of raising the living standards of the laborers.
Sukanya Samriddhi Yojana Changes
A salient feature of Sukanya Samriddhi Yojana will come into force on October 1. Only legal guardians will be allowed to conduct operation of the account opened under this scheme. If a girl’s account was opened by someone other than her legal guardian, it has to be transferred to parents/guardians to avoid its closure. This will ensure that its management continues to remain within the family structure.
These changes that are now on the horizon will highlight the dynamic nature of financial regulations and their very potential impact on everyday life. Information helps individuals and families adapt in making intelligent financial decisions.
