From Aadhaar to PPF to credit cards, 5 key changes that impact your money this month

October month which features several Indian festivals this year, including Navaratri and Diwali. It also has been comes with lots of major policy changes that could affect your budget and personal finances. Government has announced new rules affecting Aadhaar card usage, financial schemes, and consumer pricing. From the discontinuation of Aadhaar enrollment IDs for PAN applications to updates in the Sukanya Samriddhi Yojana, these modifications aim to enhance security and streamline processes. Additionally, HDFC Bank introduces exciting rewards for credit card users, while Public Provident Fund (PPF) account regulations are set to impact both minors and NRIs. Meanwhile, consumers brace for higher LPG cylinder prices amid rising oil costs. Here are all the details of these key changes:

Aadhaar Card New Rules

One of the most notable updates involves the Aadhaar enrollment ID, which will no longer be accepted for applying for a Permanent Account Number (PAN) or filing income tax returns. This action has been taken to curb misuse and duplication of PAN cards, enhancing the integrity of the tax system.

Changes in Sukanya Samriddhi Yojana scheme

Regarding this women empowerment scheme, the government has introduced changes in accounts that are opened by grandparents. If any candidate or beneficiary has such type of account, then it will be transferred to your parents or guardians, and any excess accounts beyond two will be closed.

HDFC Bank Credit Card Benefits

From October 1, HDFC Bank credit card holders can now redeem reward points for Apple products via 'HDFC SmartBuy', but this will be limited to one product per calendar quarter.

What are the New Rules for PPF Account Holders?

Changes have been also introduced for Public Provident Fund (PPF) account holders. In terms of interest rates, minors' accounts will align with post office savings until they turn 18, at which point the standard PPF rate will apply.
Moreover, if any individuals hold multiple PPF accounts, then the primary account will accrue interest, other hand excess funds in secondary accounts will be refunded at 0 per cent interest. Notably, NRIs with PPF accounts established before 1968 will see their interest rates drop to 0 per cent from this month.

New rates for LPG cylinders

As the month withdraws, consumers should also have to pay higher rates for the liquefied petroleum gas (LPG) cylinder prices, amidst an increase in oil rates due to Middle East tension. For customers, the rates for 19-kg unit cylinders stand at Rs 1,740 (New Delhi), Rs 1,692.5 (Mumbai), Rs 1,850.5 (Kolkata), and Rs 1,903 (Chennai).The prices of non-subsidised or domestic LPG cylinders (14.2 kg) prices are Rs 803 (New Delhi), Rs 802.5 (Mumbai), Rs 829 (Kolkata), and Rs 818.5 (Chennai).