Changes to Credit Cards, SIM Ports, LPG costs & more: New regulations for July in India set by the Government

5 major changes in the upcoming month will be witnessed by the citizens of India, as the government has decided new rules and regulations for some financial sectors which will be in action from 1st of July, impacting a larger number of populations.
Changes to Credit Cards, SIM Ports, LPG costs & more: New regulations for July in India set by the Government
Jaano Junction

Starting from July 1, some new rules are coming into play that will have an impact on daily life in India. So, what's changing? Well, first off, the prices for LPG cylinders are going down, which is great news! The decision has been taken by the Oil marketing companies. There's also some new credit card payment procedures set by the government which citizens need to keep in mind. Next, if you ever lose or damage your SIM card, be prepared for some waiting time before you can get a replacement, as the new SIM Port ruke has been implemented by TRAI. Mobile data charges are going up, so keep an eye on that, as maximum telecommunication company have increased there tariff plan. The Reserve Bank of India has just released the list of public holidays for this month for the banks across India. Now let's have a look in the every set of new regulations deeply that how these upcoming decisions will affect the general public. 

Reduction in prices of LPG: 

The oil marketing companies have reduced the price of commercial LPG cylinders which has been revised around 30 rupees in majority of the cities of India. However, talking about the domestic gas cylinders the prices have been unchanged since a long time and in this month we also don't expect any decrease or increase in the prices. The altar price came into effect from 6 am on 1st of July. Let’s have a look on the prices of commercial LPG cylinders in major cities, in the Capital the price has been deducted from Rs 1676 to Rs 1646, in Kolkata the cylinder will be provided for Rs 1756, and in Chennai and Mumbai the cylinder will be available at Rs 1809 and Rs 1598, respectively. 

Credit Card Payment: 

Major change will be visible for the credit card users, as they may feel problem in paying bills through some payment platforms, such as; CRED, PhonePe, BillDesk. The new change which have been implemented from 1st of July, is that the Reserve Bank of India have given regulation, that all the credit card bill payment will be done through the platform of Bharat Bill Payment System, which simply means that the users cannot use other platform for doing transactions or payments. 

SIM Card Port: 

TRAI has implemented this rule, in which if a user SIM card has been stolen or damaged then they need to wait for 7 days to get a new SIM card. The major focus of putting action of this rule was to avoid the SIM swap fraud, occuring majority of the times. The TRAI has also changed the Mobile Number Portability (MNP) rule so that the both rules work accordingly and have a positive impact. 

Increase in the prices of Tariff plans: 

This change is going to be in effect from 3-4 of July, and this is going to impact the daily expenses of majority of the households, as people are going to pay more for the tariff plans which have been increased by majority of the telecommunication company such as; Airtel, Reliance Jio, and Vodafone-Idea.

Bank holiday list: 

The RBI has provided the bank holiday list on its official website, according to which banks in India will remain close for 12 days in the month of July, it can be changed according to the different states rules and events. 

Stay connected to Jaano Junction on Instagram, Facebook, YouTube, Twitter and Koo. Listen to our Podcast on Spotify or Apple Podcasts.

Jaano Junction