These four financial rules from OTP fraud prevention may change from December 1

Money Rules: Only a few days left. Many financial rules will change on December 1. In that case your pocket will be tighter. Know that there are going to be changes in some financial rules.

Will your pocket be tight?
Several regulations may affect various sectors in the country from December 1, 2024. This includes topics ranging from preventing fake OTPs to updating credit card rules. Know which factors can increase your financial burden.

1 New rules of TRAI: The Telecom Regulatory Authority has already introduced rules to prevent dubious OTPs. TRAI has warned telecom companies to prevent scammers from stealing people’s information by sending fake OTPs. The agency has directed the telecom companies to identify the messages to save the common people from huge financial losses.

The deadline to comply with this directive is November 30, 2024 The directive requires telecom companies to make provisions for tracing all messages The initial deadline was 31 October, but TRAI extended it to 30 November following demands from service operators If companies fail to comply, users may stop receiving OTPs or their OTPs may be delayed

2 Maldives is raising its fees: Maldives, one of the most popular tourist destinations. Currently increasing fees for tourists visiting the islands. Fees will range from $30 (Rs 2,532) to $50 (Rs 4,220) for economy-class passengers. Whereas business-class passengers will see an increase from $60 (Rs 5,064) to $120 (Rs 10,129). First class passengers $240 (Rs 20,257), up from $90 (Rs 7,597). Private jet passengers will face a significant hike from $120 (Rs 10,129) to $480 (Rs 40,515).

3 Gas Cylinder Price: This is expected every month, as Oil Marketing Organizations (OMCs) revise LPG cylinder prices on the 1st of every month. In October, gas companies hiked the price of a 19 kg commercial LPG cylinder by ₹ 48, while domestic gas cylinder prices remained unchanged.

4 Changes in Credit Card Rules: From December 1, YES Bank will limit the number of reward points that can be redeemed for flights and hotels. HDFC Bank is also changing the lounge access rules for its Regalia credit card users. The new rules require users to spend ₹ 1 lakh per quarter to be eligible for lounge access from December 1. Similarly, STate Bank of India and Axis Bank have also revised the reward points rules and credit card fees for its various users.

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