These updates reflect shifting economic policies and market strategies in India.
A slew of changes are set to hit the wallets of consumers on August 1. From changes in the prices of LPG gas cylinders to revised Google Maps charges and altered HDFC Bank credit card rules, here are some major ones.
Changes in LPG gas cylinder prices
LPG gas cylinder prices are revised on the first of every month. With a reduction in the commercial cylinder price last month, much expectation rides on the possibility of a rate cut this time around as well.
Google Maps Overhauls Charges
Big Changes in India From August 1 In a bid to woo partners, Google Maps will slash charges for its services by up to 70%. However, it's also going to move to rupee billing from dollar billing. However, regular users are unlikely to feel the pinch, as no additional charges have been brought out for them.
HDFC Bank Tweaks Credit Card Rules
Come next month, and HDFC Bank is ready to make some changes to its credit card rules. Those customers who are paying rent through digital platforms such as CRED, Cheq, MobiKwik, and Freecharge will henceforth be charged a 1 percent transaction charge, with a cap of Rs 3,000 per transaction. Transactions for fuel purchases below Rs 15,000 would remain free of charge; those above this limit would bear a 1 percent charge with a cap on it at Rs 3,000.
Utility charges
It has decided to levy the following charges with effect from August 1, 2024, on utility and rent transactions: It will charge 1% on utility payments above Rs 50,000, subject to a maximum of Rs 3,000. Insurance and direct school/college payments are out of this ambit. The bank will also hike delayed payment fees and Easy-EMI charges.