Rule Changes From August 1: How Your Financial Burden Could Increase

Starting August 1, 2024, several new financial regulations will take effect, impacting various services. HDFC, India’s largest private sector bank, is updating its credit card policies, and the price of LPG gas cylinders will also be adjusted. Here’s a look at what’s changing.

LPG Gas Cylinder Price Update

The prices of LPG gas cylinders are reviewed on the first of each month. Last month saw a decrease in the price of the 19 kg commercial cylinder. There is hope that this trend of price reduction will continue into August.

Changes to HDFC Bank Credit Card Rules and Transaction Charges

Customers using platforms like CRED, Cheq, MobiKwik, and Freecharge to pay fares will face a 1% charge on transaction amounts, capped at ₹3,000 per transaction. For fuel transactions under ₹15,000, there will be no additional charge, but transactions over this amount will incur a 1% fee, also capped at ₹3,000.

For utility transactions, amounts under ₹50,000 will remain free of additional charges. However, a 1% charge will apply to transactions above ₹50,000, capped at ₹3,000. Insurance payments are exempt from these charges. Direct payments through school or college websites or POS machines will not incur fees, but using third-party apps like CRED or MobiKwik will incur a 1% charge, capped at ₹3,000. The late payment fee process has been revised, with fees ranging from ₹100 to ₹1,300, depending on the outstanding amount. Opting for Easy-EMI will attract a processing charge of up to ₹299. These charges are subject to GST. Additionally, changes will be implemented in Tata Neu Infinity and Tata Neu Plus credit cards from August 1. Users of the Tata Neu Infinity HDFC Bank Credit Card will earn 1.5% NewCoins on eligible UPI transactions using the Tata New UPI ID.

Google Maps Reduces Service Charges by 70%

Google Maps has announced a 70% reduction in service charges in India, effective August 1, 2024. Additionally, charges will now be billed in Indian rupees instead of dollars. These changes will not affect general users, as no extra charges are being applied to them.