Several changes are going to take place from November 2024, including new railway rules, Indian Bank’s special fixed deposit offer, credit card rules for some banks, RBI’s new money transfer rules, and more. Let’s have a look at each.
Also Read– Credit card tokenisation: What it is and how does it work?
New SBI credit card rule
From November 2024, the fee structure for utility bill payments and finance charges for SBI credit card. It’s important to note that the effective dates for these changes differ.
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SBI Card has revised the finance charges to 3.75% p.m. on all unsecured SBI Credit Card. However, this is not applicable to Shaurya, Defense. This is effective from November 1, 2024. Also, if the total amount of utility payments made in a billing period exceeds Rs.50,000, the customer has to pay a 1% fee, which is applicable from December 1, 2024.
ICICI Bank credit card rules changed
Likewise, ICICI Bank has modified its fee structure and reduced rewards for several credit cards. The changed rates are effective from November 15, 2024 and will be applicable on various credit cards.
The upcoming ICICI Bank credit card rules changes include spa discontinuation, spend threshold for Annual Fee, no fuel surcharge waiver for spends beyond Rs 100K, zero rewards on government transactions, 1% fee on education payment via third party, revised late payment charges.
Indian Bank special FD deadline
The last date for investing in Indian Bank’s two special FDs, which are 300 and 400 days, has been extended until November 30, 2024.
RBI money transfer rule
The Reserve Bank of India (RBI) announced new rules for domestic money transfers (DMT) that will come into effect on November 1, 2024.
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New train ticket advance booking rule
The advance reservation period (ARP) for the Indian Railways train ticket will be reduced from 120 days to 60 days from November 1, 2024.
