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Rules change from July 1: From today i.e. July 1, 2024, many changes have been made which will have a direct impact on your pocket. There have been many changes from credit card to bank account, SIM card to LPG cylinder. Not only this, some more changes related to money are also likely to happen in July. Finance Minister Nirmala Sitharaman will present the full budget in July itself, while on the other hand the deadline for filing income tax returns is also ending. This month many changes are being seen related to ITR filing, mutual funds and credit cards.
LPG gas became cheaper
Gas cylinder prices have come down from July 1. However, this relief has been given in commercial cylinders i.e. 19 kg bottles. However, there has been no change in the prices of domestic gas cylinders. This reduced price will benefit those who use commercial gas cylinders i.e. restaurant owners, dhaba owners. They will now get a bottle cheaper by Rs 30. Oil companies have not made any change in the prices of domestic gas cylinders.
new sim card rules
Mobile phone users should pay attention, because many changes are happening from July 1. TRAI has made a big change in the SIM card rules. TRAI has changed the SIM card portability rule. The new SIM card portability rules have come into effect from July 1. TRAI has made the mobile number portability rules more stringent than before. Under the new rule, to port the number, the user will first have to submit an application and then the mobile number users will have to verify their identity and all the information. Number portability facility will be available through OTP. Under the new rule, users will have to show the address certificate along with the necessary identity card while taking the SIM card. Not only this, users will also have to undergo biometric verification. Not only this, TRAI has also extended the locking period by seven days.
Recharge became expensive
Talking on mobile will become expensive from July. You will have to pay more for mobile recharge. Reliance Jio, Vodafone Idea and Airtel have increased the prices of their tariff plans.
Credit card rules
The new rules for credit card bill payment have come into effect from July 1. According to the new RBI rule, all banks will have to make credit card payments through Bharat Bill Payment System. There are many banks like HDFC, ICICI in this list. Who have not yet followed these instructions. So far only 8 banks have activated bill payment on BBPS. In such a situation, the customers of these banks who have not activated it yet may suffer losses.
Credit cards have become more expensive,
Also, reward points will stop being available on many SBI credit cards from July 1. ICICI Bank has increased the service fee on various credit cards from July 1. The bank has increased the card transfer fee from Rs 100 to Rs 200 for all cards except Emerald Private Metal Credit Card.
Bank accounts not working
On June 30, Punjab National has closed those bank accounts which have not been active for the last 3 years and have no bank balance. Such bank accounts will not work from July 1. The bank has said in its notification that the account which has been used for more than 3 years till April 30, 2024 will be closed from July 1.