Amid Indian consumers’ struggle to cope with the inflation, they have to deal with another price rise in the last month of the year. From December, a matchbox would cost ₹2 from the current ₹1, an increase that comes after a gap of 14 years. The industry body has cited the increase in the price of raw materials and the subsequent rise in production cost as the reason behind the 100% increase in the price of a matchbox.
The number of matchsticks in a box, however, will be more. A ₹2 matchbox will have 50 sticks, up from 36 in the ₹1 box. The increase in price will be effective from December 1.
V S Sethurathinam, secretary of the National Small Matchbox Manufacturers Association, recently told news agency PTI that they have no other option but to increase the maximum retail price of the matchbox due to the jump in the cost of production.
“A kilo of red phosphorous has increased from ₹410 to ₹850, wax from ₹72 to ₹85, pottasium chlorate ₹68 to ₹80, splints (sticks) from ₹42 to ₹48. Outer box ₹42 to ₹55 and inner box from ₹38 to ₹48. Like this, the price of all raw materials have increased manifold,” PTI quoted Sethurathinam as saying.
The credit card customers of the State Bank of India (SBI) will have to pay a significant charge on all Equated Monthly Installment (EMI) purchases. The SBI has informed its customers that a processing fee of ₹99 plus taxes will be levied on all EMI purchase transactions with effect from December 1, 2021. The charge will be levied on transactions done at merchant outlets, e-commerce websites and apps using the SBI credit card.
“Dear Cardholder, We would like to inform you that with effect from 01 Dec 2021, Processing Fee of Rs. 99 + applicable taxes will be levied on all Merchant EMI transactions done at Merchant outlet/website/app. We thank you for your continued patronage. Please click here to know more about Merchant EMI Processing Fee,” SBI credit card said in a mail sent to its customers.
(With agency inputs)
Close Story
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
