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As October draws to a close and November approaches, important financial adjustments will take effect on November 1. As with every new month, there are a number of rule changes in November. Potential price modifications for LPG cylinders and updated credit card regulations are two significant developments. Household finances are anticipated to be impacted by these modifications as well as others. These six significant developments are expected to occur in November.

Update on LPG Cylinder Prices:

Petroleum firms are expected to provide updated LPG cylinder prices on November 1st, as is traditional on the first of each month. The price of 14 kilogram home LPG cylinders has been steady for a while, and consumers are hoping that it will drop.

In the meantime, despite a drop earlier in the year, the price of commercial LPG cylinders (19 kg) has increased every month since July. As of October 1, Delhi saw a recent hike of Rs 48.50, bringing the total increase over the previous three months to Rs 94. Rate Revisions for ATF and CNG-PNG: On the first of every month, fuel providers modify the pricing for aviation turbine fuel (ATF) and CNG-PNG in addition to the monthly changes for LPG cylinder prices. ATF prices have dropped in recent months, and further cuts are anticipated this year. Significant changes in the pricing of PNG and CNG may also be expected.

Changes to SBI Credit Cards:

Important changes impacting credit card customers’ financing costs and utility bill payments will be implemented starting on November 1 by SBI Card, a State Bank of India subsidiary. Finance fees for SBI credit cards that are unsecured will rise to 3.75 percent every month. Additionally, a one percent tax will be applied to payments for power, water, LPG, and other utility services that exceed Rs 50,000.

The New Rules for TRAI:

Since the government has ordered all telecom providers, including Jio and Airtel, to adopt message traceability, the telecom industry is expected to undergo changes starting on November 1. By identifying and filtering spam communications before they reach SIM users, telecom operators are mandated to prohibit spam numbers under this order.

13-Day Bank Holidays:

Due to festivals, public holidays, and assembly elections, banks in different areas will be closed for 13 days in November. During this time, customers are urged to use online banking services to finish necessary procedures.

Updated Mutual Fund Regulations:

SEBI is enforcing more stringent regulations to prevent insider trading in the mutual fund industry as of November 1. The new rules require compliance officers to report any transactions involving nominees and their immediate family members in assets managed by asset management firms (AMCs) that exceed Rs 15 lakh. The goal of this policy is to make the mutual fund sector more accountable and transparent.