‘OTP stopped coming..’ : Upcoming Changes from December 1, 2024 – What You Need to Know
As November draws to a close and December brings the chill of winter, significant changes are set to take effect from December 1, 2024. These updates, ranging from credit card rules to LPG prices, could directly impact your wallet. Here’s a detailed breakdown of what’s changing:
1. Credit Card Rules (SBI Updates)
State Bank of India (SBI) is introducing new limitations and exclusions on its credit card rewards program:
- Reward Point Redemption: SBI credit cards will now limit the number of reward points redeemable for flight and hotel bookings.
- Gaming Transactions Excluded: Transactions with digital gaming platform merchants will no longer earn reward points starting December 1. This change aims to restructure reward offerings but may come as a shock to frequent users of gaming services.
2. Bank Holidays in December
According to the Reserve Bank of India (RBI), banks will remain closed for a total of 17 days in December 2024. This includes regular holidays, weekends, and regional variations. Before planning any in-person banking activity, it is advisable to check the official holiday schedule to avoid inconvenience.
3. LPG Price Changes
The prices of LPG cylinders, both domestic and commercial, are generally revised on the first day of every month. Here’s what to expect:
- Commercial LPG Prices: In October, the price of a 19-kg commercial LPG cylinder rose by 8%. A similar revision might be on the cards for December.
- Domestic LPG Prices: While there was no change in domestic cylinder prices in October, it remains to be seen whether December brings any adjustments.
Stay updated with announcements from gas companies to plan your household budget effectively.
4. TRAI’s New OTP Traceability Rules
To enhance user security and curb phishing scams, the Telecom Regulatory Authority of India (TRAI) has introduced new rules regarding message traceability:
- Traceable OTP Messages: Telecom companies must ensure that the origin of any message can be traced. This step is designed to prevent scams and phishing activities.
- Impact on Users: Non-compliance with these rules could result in fines of up to ₹10,000. Additionally, users might experience delays or disruptions in receiving OTPs.
- Implementation Deadline: Originally scheduled for November 1, 2024, these rules will now take effect from December 1, 2024.
Final Thoughts
The start of December brings a mix of changes that require your attention, from alterations in credit card rewards to potential fluctuations in LPG prices and stricter telecom regulations. Planning ahead and staying informed can help you navigate these updates with ease.
For more news and insights, stay tuned to trusted sources and keep an eye on official announcements. Let’s embrace December with preparation and informed decision-making!
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