Key changes effective from August 1: FASTag, HDFC Credit Cards, IPOs, CAT registration

Changes from Aug 1: Starting August 1, significant changes will take effect, including new FASTag regulations, revised credit card terms, and upcoming IPOs. Here's a rundown of the key changes you need to know.

New FASTag Rules Take Effect

Starting August 1, significant changes to FASTag regulations will be implemented. Users must replace FASTags older than five years and update Know Your Customer (KYC) information by October 31. FASTags issued three years ago also require KYC updates. New vehicles must be registered with an updated FASTag within 90 days of purchase. Additionally, vehicle registration numbers and chassis numbers must be mandatorily linked with FASTags. Users must also verify databases, upload clear photos of their car's front side, and link FASTags to a mobile number.

HDFC Bank Revises Credit Card Terms

HDFC Bank has introduced new terms and conditions for its credit card holders, effective August 1. A 1 per cent fee will be charged on rental transactions made through third-party payment apps like PayTM, CRED, MobiKwik, and Cheq. The bank will also apply fees on utility, fuel, education, and international transactions. Additionally, HDFC has revised late payment charges, fees for redeeming rewards, finance charges on outstanding fees, and EMI processing fees.

Ola Electric IPO Opens for Subscription

Ola Electric's IPO opens for subscription from August 1 to 6, with the anchor offer available from August 1 and the public offer starting on August 2. The IPO aims to raise approximately $740 million, marking the first IPO by an Indian electric vehicle manufacturer.

Ceigall India IPO Launches

The Ceigall India IPO subscription period begins on Thursday, August 1, and ends on Monday, August 5. The price band for the IPO is set between ₹380 and ₹401 per equity share, with a face value of ₹5. The allocation to anchor investors is scheduled as part of the offering.

CAT 2024 Registration Begins

Registration for the Common Admission Test (CAT) 2024 starts on August 1 at 10 am. The Indian Institute of Management (IIM) Calcutta has released the notification for online registration, which can be completed through the official IIM CAT website, iimcat.ac.in. Candidates can apply for various postgraduate and Fellow/Doctorate programs offered by the IIMs.