Rules will change from October 1, payment and checkbook related rules to salary will be affected

Banking rules

New Delhi: You will get to see many new changes from 1 October 2021. Yes. Only 5 days are left for the completion of the month of September and after that, the month of October will start. At the beginning of October, many rules related to your bank and salary are going to change.

From next month many everyday things are going to change (important rules changes from 1st October). These changes are related to the life of the special to the common man. These include many changes from banking rules to LPG (LPG price). Let us know what changes are going to happen-

  1. There will be change in the pension rules
    From October 1, the rules related to Digital Life Certificate are changing. Now all the elderly pensioners of the country who are 80 years or more will be able to submit the digital life certificate at the Jeevan Pramaan Center of all the Head Post Offices of the country. Time has been given till November 30 for this. The work of submitting the life certificate is going to start through the post office. Therefore, the Indian Postal Department has asked to ensure that the ID of Jeevan Pramaan Center is activated on time, if it is already closed.
  2. The old check book will not run from October 1 (Check book rules)
    From October 1, checkbooks and MICR codes of three banks will become invalid. These banks are Oriental Bank of Commerce (OBC), United Bank of India and Allahabad Bank. Let us tell you that these banks are those which have recently merged with other banks. Due to the merger of banks, due to changes in the account numbers, IFSC and MICR code of the account holders, from October 1, 2021, the banking system will reject the old check. All the check books of these banks will become invalid.
  3. The rules of auto debit card will change (auto debit rules)
    From October 1, the new RBI (Reserve Bank of India) rule is being implemented for auto debit from your credit / debit card. Under this, certain auto debits from debit and credit cards or mobile wallets will not happen until the customer gives his approval. According to the new Additional Factor Authentication rule, which will be applicable from October 1, 2021, any auto debit to the bank The customer will have to send a notification 24 hours in advance to allow the account to be debited through payment. The money will be debited from the customer’s account only when he confirms it. You can get this notification by SMS or E-mail.
  4. There will be change in the investment related rules (Mutual fund related rules)
    Market regulator SEBI (SEBI) has now come up with a new rule keeping in mind the interests of mutual fund investors. This rule will be applicable to the junior employees working in Asset Under Management (AMC) ie Mutual Fund House. Junior employees of asset under management companies will have to invest 10 per cent of their gross salary in units of that mutual fund with effect from October 1, 2021. Whereas by October 1, 2023, phasewise it will be 20 percent of the salary. SEBI has called it the Skin in the Game rule. The investment will also have a lock-in period.
  5. There will be a change in the prices of LPG cylinders (LPG price)
    There will be a change in the prices of LPG cylinders from October 1. Let us know that on the first of every month, new prices of domestic LPG and commercial cylinders are fixed.
Banking rules