From October 1, CNG prices to PPF, NSC, Sukanya savings schemes, see how things will change
If you want to increase the amount of money that you have, then know that from today, October 1, a number of new rules will come into effect and they will have a big impact. Several new rules are being implemented from today in the wake the Central government's decisions taken earlier. Some of these will put a burden on common man's pocket, but a few will also give relief to them. Here are a few new initiatives that will come into force from Monday.
1. Small savings schemes interest rates: Good news for PPF, NSC, Sukanya Samriddhi, Senior Citizens' Savings Scheme
Interest rates of various small savings schemes for the third quarter (October 1 to December 31) will be hiked by up to 40 bps from today. These schemes are: the Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), National Savings Certificate (NSC) and post office time deposits. After the hike, PPF and NSC will earn 8 percent, the Sukanya Samriddhi Scheme will fetch 8.5 percent, and the Senior Citizens' Savings Scheme will provide 8.7 percent rate of interest. Image source: PTI
2. CNG prices up
From today onwards, you have pay more cooking gas as the oil companies have decided to hike subsidised LPG cylinder price by Rs 2.89 per cylinder in Delhi, where it be avaialble at a price of Rs 502.40, compared to previous rate of Rs 499.51 in September. This price hike is for domestic customers only. The non-subsidised LPG cylinder prices have witnessed massive hike by Rs 59 per cylinder in October month. Image source: Reuters
3. Action against Call drops
Telecom operators will have to pay a penalty if there is a problem of call drop according to the new provisions. Telecom Regulatory Authority of India (TRAI) has earlier stated that it would penalise the telecom operators who failed to address the call drop issues. Accordingly, not only call drop, the data drop has also been included in the new provision. From October 1, the new rules will be enforced and telecom firms will have to pay upto Rs 5 lakh as penalty. Prime Minister Narendra, who also faced the call drops problem, has reportedly asked Telcos to solve the problem fast. Image source: Reuters
4. Trading in commodity derivatives
The Bombay Stock Exchange (BSE) is launching trading in commodity derivatives from today, waiving off the transaction charges for the first year of commodities market operations. The BSE statement earlier said the exchange will begin trading in commodity derivatives with non-agriculture commodities like metals initially, followed by agri commodities subsequently. It also stated that it has decided to waive off the transaction charges for the first year of commodities market operations to encourage more participants to join the commodity markets. Image source: IANS
5. Timing for Equity derivatives trading extended
Sebi has allowed stock exchanges to extend timing of equity derivatives trading till 11:55 pm from today, stating that the move will enable integration of trading of various segments of securities market at the level of exchanges. Now, the trading in equity derivatives will take place from 9 am to 11:55 pm. This is similar to the trading hours for commodity derivatives segment which are presently fixed between 10 am and 11:55 pm starting October. Image source: Reuters