5 key financial changes in September: Aadhaar update deadline, LPG price hike, credit card regulations and more

As September 2024 unfolds, several key developments are poised to impact personal finances, with changes ranging from LPG cylinder costs to new credit card regulations. Staying updated on these shifts can help you manage your budget more effectively and steer clear of unexpected financial challenges. Here’s a look at the top five changes you should be aware of this month.

1. Aadhaar Update deadline extended

The Unique Identification Authority of India (UIDAI) has extended the deadline for free Aadhaar updates until September 14, 2024. This extension offers Aadhaar holders more time to ensure their demographic details are accurate and current. Updating Aadhaar is essential as it is linked to critical services such as banking, government programs, and mobile connectivity. The process involves submitting valid identity and address proof online via the UIDAI portal. It’s crucial to act before the deadline, though it remains uncertain whether UIDAI will extend it again.

2. OMCs hike commercial LPG cylinder prices in Delhi by ₹39

Oil marketing companies have revised the prices of commercial LPG gas cylinders. The rate of 19 KG commercial LPG gas cylinders has been increased by ₹39 in Delhi with effect from September 1. Delhi retail sales price of 19kg commercial LPG cylinder is ₹1,691.50 from today.

3. Updates to ATF and CNG-PNG rates

Beginning September 1, 2024, revisions to the prices of aviation turbine fuel (ATF) and CNG-PNG are expected. These changes could affect transportation costs, especially in air travel, and might lead to a ripple effect on the prices of goods and services due to higher logistics expenses. Households that use CNG-PNG for their vehicles or as a domestic energy source should monitor these price shifts closely.

4. New measures against fraudulent calls

To combat the growing issue of fraudulent calls and spam messages, the Telecom Regulatory Authority of India (TRAI) is implementing new measures from September 1, 2024. A key change includes the gradual transition of telemarketing services to a blockchain-based system by September 30, enhancing security and reducing the volume of unsolicited calls and messages. This initiative is part of a broader effort to protect consumers from telecom-related fraud.

5. Changes to credit card regulations

September will see updates to credit card policies, particularly concerning reward points and payment schedules. HDFC Bank is introducing a cap on reward points for utility payments, meaning cardholders might earn fewer points on transactions like paying for electricity or water. Meanwhile, IDFC First Bank is revising its payment schedules, potentially affecting how and when payments are processed. Credit card users should review these changes carefully to avoid missing out on rewards or incurring unexpected fees.