13 bank holidays, LPG-CNG prices, mutual funds: What will change from November 1?

November 1 regulatory changes in India: Starting November 1, 2024, several key changes are set to come into effect that could impact household budgets. Among these are updates to Mutual Fund regulations, Credit Card charges, and potential adjustments in fuel prices, making it essential for consumers to be informed. Here’s a breakdown of what to expect:

1. Changes in LPG, CNG, PNG and ATF Prices

Petroleum companies traditionally adjust fuel prices on the first of each month, and November 1 is expected to bring similar shifts. Consumers are hopeful for a reduction in the 14 kg LPG cylinder price, although 19 kg commercial cylinder prices have steadily increased over the past three months. As of October, the cost of a commercial cylinder rose by Rs 48.5 in Delhi. Price revisions for CNG, PNG and Air Turbine Fuel (ATF) are also anticipated, with potential reductions in aviation fuel costs.

2. New mutual fund rules

The Securities and Exchange Board of India (SEBI) is tightening Mutual Fund regulations to curb insider trading. From November 1, compliance officers must be notified of any transactions exceeding Rs 15 lakh by nominees or close relatives in Asset Management Companies (AMCs). This measure aims to enhance transparency and accountability within the market.

3. Revised SBI Credit Card charges

SBI Card, an SBI subsidiary, is set to introduce a finance charge on unsecured credit cards of Rs 3.75 monthly, starting November 1. Additionally, utility payments exceeding Rs 50,000—such as electricity, water, and LPG bills—will incur an extra 1% charge.

4. TRAI’s new telecom regulations

In the telecom sector, TRAI has mandated message traceability and spam blocking across major carriers, including Jio and Airtel. Telecom providers will preemptively block spam messages and numbers before they reach consumers, aiming to enhance user experience.

5. November bank holidays

November will see a total of 13 bank holidays, primarily due to festivals, public holidays, and assembly elections. Key dates include:

• November 1: Diwali
• November 2: Govardhan Puja
• November 3: Bhai Dooj
• November 7-8: Chhath
• November 15: Guru Nanak Jayanti
• November 18: Kanakadas Jayanti

On these holidays, consumers can rely on online banking services.