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5 Big Changes Will Come into Effect from July 1, 2024: Know Details

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The month of June is coming to an end and from July 1, there will be 5 major things are going to change across the country, which can directly affect your bank account and mobile phone. The changes including from LPG cylinder prices to credit card rules, which will directly affect the pocket of common people.

1. There Will be Change in LPG Cylinder Prices

Oil companies revise LPG cylinder prices at the beginning of the month and this change will be visible from July 1, 2024. In the last few days, the price of 19 kg commercial gas cylinder has changed many times. However, domestic gas cylinder prices have remained stable for a long time. However, after the formation of the NDA government under the leadership of Prime Minister Narendra Modi in the country, consumers are hoping that there will be some relief in the prices of domestic cylinders.

2. Chances of Price Reduction in ATF and CNG-PNG Rate

Only LPG cylinders are changed on 1st day of every month. Oil companies also revise prices of aviation fuel i.e. Air Turbine Fuel (ATF), CNG-PNG. However, if the ATF price is reduced, the airline passengers will get a little relief, while the CNG price will be reduced, the cost of the passengers will also be reduced.

3. Changes in Credit Card Payment

If you are a Credit Card user, then from the beginning of July 2024, major changes related to credit card payments are going to be implemented. There may be some concerns in bill payment on the payment platform including cred, phone pay, bill desk. As per RBI’s new rules, from July 1, all credit card payments will be made through Bharat Bill Payment System i.e. BBPS. After this all billing should be done through Bharat Bill Payment System.

4. Changes in SIM Card Portability Rules

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Mobile number portability rules are going to change from July 1, 2024. The Telecom Regulatory Authority of India (TRAI) has changed the number portability rules to keeping security in mind, which will be implemented from 1 July 2024 to avoid SIM swap fraud. If the SIM card is stolen or damaged earlier, the customer gets the SIM card immediately from the store, but now for new rules you have to wait for few days. Customers will have to wait for 7 days to get a new SIM card.

5. New Rule for Punjab National Bank(PNB) Account Holder

A big change has also come for the customers of Punjab National Bank(PNB). If you have an account in Punjab National Bank, which you have not used for years, then it will be closed from 1 July 2024. The PNB account which has never had any transaction for the last 3 years and the account balance is zero, then you should go to the PNB branch near you before June 30 and get the account cleared. Otherwise your account may be closed from 1st July.

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