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Financial Rules Change From 1st August 2024: As we enter the month of August, several significant changes related to money and banking are set to take effect. These updates involve modifications to credit card rules, LPG gas cylinder prices, and service charges on Google Maps. Here’s a comprehensive look at what to expect:
LPG Gas Cylinder Price Update
The price of LPG gas cylinders is revised on the first of every month. Last month, the government reduced the price of the 19 kg commercial cylinder, and similar reductions are expected this time. Consumers are advised to check the updated prices on August 1, 2024.
HDFC Bank Credit Card Rule Changes
Transaction Charges:
Starting August 1, 2024, HDFC Bank will implement new transaction charges for its credit card users:
- Payments via CRED, Cheq, MobiKwik, Freecharge, etc.: A 1% fee on the transaction amount will be levied, capped at ₹3,000 per transaction.
- Fuel Transactions: No extra charge for transactions under ₹15,000. Transactions above ₹15,000 will incur a 1% fee, capped at ₹3,000.
- Utility Transactions: No fee for transactions under ₹50,000. Transactions above ₹50,000 will incur a 1% fee, capped at ₹3,000. Insurance transactions are exempt from this fee.
Late Payment and EMI Charges:
- Late Payment Fees: Revised based on the outstanding amount, ranging from ₹100 to ₹1,300.
- EMI Processing Charges: Up to ₹299 for availing the Easy-EMI option at online or offline stores.
Tata Neu Credit Card Changes:
- From August 1, Tata Neu Infinity HDFC Bank Credit Card users will earn 1.5% NewCoins on eligible UPI transactions made using the Tata Neu UPI ID.
Google Maps Service Charges
Google Maps has announced a significant reduction in service charges in India by up to 70%, effective August 1, 2024. Charges will now be billed in Indian rupees instead of dollars. This change is designed to benefit businesses using Google Maps services, with no additional charges imposed on general users.
These updates are crucial for consumers and businesses alike, as they reflect ongoing adjustments to financial practices and technological services. Staying informed about these changes can help individuals and businesses better manage their finances and take advantage of the benefits provided by these new rules.
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