Major Financial and Consumer Changes Set for November 1

New regulations and updates in banking, telecom, and consumer services will impact daily transactions across India starting November 1, 2024.

The Reserve Bank of India will implement new guidelines for Domestic Money Transfers to enhance security and compliance.
SBI and ICICI Bank are revising their credit card charges and reward programs, affecting finance charges and benefits.
Indian Railways will reduce the advance booking period for train tickets from 120 days to 60 days.
Telecom companies will introduce message traceability to combat spam and fraud, blocking non-compliant messages.
LPG cylinder prices will be updated, potentially affecting both domestic and commercial users.