Major Rule Changes Effective October 1, 2024: Impacts on PPF, LPG Prices, Credit Cards, and More

As September comes to a close, significant changes will take effect starting October 1, 2024. These adjustments could directly affect both your kitchen and your finances. Key changes include alterations to the Public Provident Fund (PPF) rules, fluctuations in LPG cylinder prices, updates regarding credit card regulations, and modifications to the Sukanya Samriddhi Scheme. Here’s a closer look at five major changes that will be implemented.

LPG Price
Fuel companies typically adjust LPG cylinder prices on the first of each month, with revised prices set to be announced by 6 AM on October 1, 2024. While the price of the 19 kg commercial gas cylinder has seen several fluctuations recently, the 14 kg domestic gas cylinder has remained stable without any changes.

CNG-PNG Prices:
In addition to the monthly adjustments for LPG cylinder prices, fuel companies will also revise the prices of compressed natural gas (CNG) and piped natural gas (PNG) on October 1, 2024. The new rates for these fuels are anticipated to be announced alongside the LPG updates. Notably, the price of air turbine fuel (ATF) was reduced earlier in September.

HDFC Credit Card:
HDFC Bank customers will see changes to the loyalty program for certain credit cards starting October 1, 2024. These new rules will affect how rewards and benefits are earned and redeemed, marking a significant update for cardholders.

PPF Account:
Significant updates to the Public Provident Fund (PPF) scheme, part of the Post Office Small Savings Scheme, will take effect on October 1, 2024. The Department of Economic Affairs, under the Union Ministry of Finance, issued new guidelines on August 21, 2024, outlining these changes. Key among them is a crackdown on individuals with multiple PPF accounts, as well as adjustments to interest payouts for irregular accounts. Notably, interest on post office savings accounts will only be credited once the account holder reaches the age of 18.

Sukanya Samriddhi Yojana:
The central government has announced a significant rule change regarding the Sukanya Samriddhi Yojana, aimed specifically at benefiting girls. Effective October 1, 2024, only the legal parents of the account holders will be permitted to operate these accounts. According to the new regulations, if an SSY account has been opened by someone who is not the girl's legal guardian, it must be transferred to her natural parent or legal guardian. Failure to comply with this requirement may result in the account being closed.