Every month, various financial rules and regulations are updated. In August, several laws will be modified, directly affecting common citizens. Notably, next month, HDFC Bank, the largest private sector lender in the country, will revise its credit card policies. Additionally, Google will implement changes to Google Maps charges in India.
LPG gas cylinder
These new laws will take effect on August 1, 2024. Here are the changes coming next month:.
LPG gas cylinder rates are adjusted on the first day of every month. Last month, the government reduced the cost of a 19 kg commercial cylinder. It is speculated that the government will lower the cost of the cylinder again this time.
Google Maps to Reduce Charges by 70%
Google Maps has introduced significant changes to its rules in India, effective nationwide starting August 1, 2024. The company has reduced charges for its services in India by up to 70%. Additionally, Google Maps will now charge for its services in Indian Rupees instead of Dollars. Regular users will not be affected by these changes as no extra charges will be levied on them.
Change in HDFC Bank Credit Card Rules – Transaction Charge
Customers using CRED, Cheq, MobiKwik, Freecharge, and similar services to pay rent will be charged 1% of the transaction amount, capped at Rs 3,000 per transaction. For fuel transactions, there will be no extra charge for transactions under Rs 15,000. However, transactions over Rs 15,000 will incur a 1% charge on the total amount, also capped at Rs 3,000 per transaction.
Utility transactions
Transactions under Rs 50,000 will not incur any additional charges. Transactions over Rs 50,000 will attract a 1% charge on the total amount, capped at Rs 3,000 per transaction. Insurance transactions are exempt from this charge. Payments made directly through college or school websites or their POS devices will be charge-free, but transactions made using third-party apps like CRED, Cheq, MobiKwik, and others will attract a 1% charge, limited to Rs 3,000 per transaction.
The delayed payment charge process has been modified, with fees ranging from Rs 100 to Rs 1,300 based on the outstanding amount. Using the Easy-EMI option at any online or offline store will attract an EMI processing charge of up to Rs 299. HDFC Bank has stated that all the charges mentioned above are subject to GST as per government regulations.
In addition, HDFC Bank will implement changes to its Tata Neu Infinity and Tata Neu Plus credit cards starting August 1, 2024. Users of the Tata Neu Infinity HDFC Bank credit card will earn 1.5% NewCoins on eligible UPI transactions. made using the Tata New UPI ID.