Major Rule Changes Effective January 1, 2025: Impact on Amazon Membership, Car Prices, FD Rules, and More

With the New Year just days away, several rule changes set to take effect from January 1, 2025, are expected to have a direct impact on your finances. Major car manufacturers have announced price hikes starting next year. Additionally, the GSTN will implement three significant updates on the GST portal. The RBI has also revised fixed deposit regulations concerning NBFCs and HFCs. Here's a closer look at these upcoming changes.

Telecom Companies: Important Rule Changes from January 1, 2025
Several crucial regulations for telecom companies will undergo changes starting January 1, 2025. The right-of-way rule will come into force in the new year, requiring companies to prioritize the installation of optical fibre lines and new mobile towers. This change aims to enhance service quality. Moreover, under the revised rules, the process for installing mobile towers will become simpler for telecom companies.

Amazon Prime: Changes to Membership Rules in India
Amazon is updating its Prime membership policies in India, effective January 1, 2025. Under the new rules, Prime Video can only be streamed on two devices simultaneously, including one account. Users wishing to stream on more than two devices, such as TV, will need to purchase a separate subscription. Currently, Prime members can stream on up to five devices without any restrictions on device type.

GST Portal: Key Updates Effective January 1, 2025
The Goods and Services Tax Network (GSTN) has announced three significant changes to the GST portal, which will take effect from January 1, 2025. Two of these updates pertain to the extension and validity of e-way bill generation, while the third focuses on ensuring secure entry on the GST portal. Failure to comply with these rules could negatively impact buyers, sellers, and transporters.

FD Rules: RBI Updates for NBFCs and HFCs
The Reserve Bank of India (RBI) has introduced new rules for fixed deposits with Non-Banking Financial Companies (NBFCs) and Housing Finance Companies (HFCs), effective January 1, 2025. These rules cover the acceptance of public deposits, maintaining a specific percentage of liquid assets, insuring all public deposits, and enabling emergency withdrawals.

Buying a Car to Get Costlier in 2025
Purchasing a car will become more expensive as several car manufacturers have announced price hikes starting January 1, 2025, citing increased costs. Companies like Maruti Suzuki, Hyundai, Mahindra, JSW MG, Honda, Mercedes-Benz, Audi, and BMW have revealed price increases, with most opting for a 3% hike.

LPG Cylinders: Commercial Rates on the Rise
Fuel companies review LPG rates on the first day of each month. Over the past five months, the price of 19 kg commercial cylinders has seen consistent hikes, while domestic 14.2 kg cylinder prices remain unchanged at ₹803.00 in Delhi. Meanwhile, crude oil prices in the international market stand at $73.58 per barrel.

Thailand to Introduce E-Visa from January 1, 2025
Thailand will roll out its e-visa system starting January 1, 2025. Applications can be submitted via the official website. With a significant number of Indian tourists visiting Thailand, this initiative is expected to simplify the visa process for Indian travelers.