Starting December 1, 2024, several key regulatory and policy changes will come into effect, impacting telecom services, tourism, credit card users, and gas cylinder prices. Here’s a look at what’s changing and how it may affect you.

How will TRAI’s new OTP rules impact users?

Telecom Regulatory Authority of India (TRAI) has come out with new regulations to fight this problem of fake OTPs which are widely used by scammers to unlock a device and withdraw money from it.

Telecom companies are now mandated to ensure traceability of messages, and the deadline to comply is November 30, 2024. The rule has been made so that authorities can trace the message to its source. The deadline was earlier set as October 31 but was later extended after telecom operators requested more time.

Non-compliance may lead to delayed or stopped OTPs for users. Therefore, it is a must for telecom companies to adhere to the deadline.

Planning a trip to Maldives? Be prepared for higher fees

Maldives tourists will face a hike in departure fee starting December 1. Here's the list:

  • Economy-class passengers: fee increases from $30 or ₹2,532 to $50 or ₹4,220.
  • Business-class passengers: fee doubles from $60 or ₹5,064 to $120 or ₹10,129.
  • First-class passengers: fee increases from $90 or ₹7,597 to $240 or ₹20,257.
  • Private jet passengers: big increase from $120 or ₹10,129 to $480 or ₹40,515.

The new rates form a part of the revised policies of tourism in the Maldives, which has one of the world's most expensive travel destinations.

Will LPG cylinder prices change?

As always, the oil marketing companies (OMCs) will assess and revise LPG cylinder prices on December 1. In October, LPG commercial cylinder prices for 19 kg were hiked by ₹48, whereas for domestic LPG, no price hike was observed. Whether December holds any surprise for household budgets can only be known after seeing the change.

What’s changing for credit card users?

Major banks, such as YES Bank, HDFC Bank, State Bank of India, and Axis Bank, are changing their rules for credit cards.

YES Bank: Reward points redeemable for flight and hotel bookings will be capped from 1 December.

HDFC Bank: Regalia cardholders will have to spend ₹1 lakh per quarter to retain lounge access.

State Bank of India & Axis Bank: Policy changes in rewarding points as well as credit card fee charges.

All these changes remind cardholders to know about the new terms that can be used for maximising the benefits.

These changes, aimed at improving governance and user experience, call for adjustments on the part of individuals and businesses. Keeping track of telecom updates, planning travel budgets, and managing credit card usage all require staying prepared to navigate these updates smoothly.