Rule Changing from 1 October: The new month of October has begun today, and with it, several financial and non-financial changes have come into effect. These include rules related to everything from UPI to railway ticket booking, pension investments, wall lockers, and postal services. These changes will directly impact the pockets of ordinary people and their everyday conveniences.
'Collect Requests' Discontinued on UPI
The National Payment Corporation of India (NPCI) has discontinued the facility of Person to Person (P2P) 'Collect Request' on UPI apps like Phonpe, Google Pay and Paytm. This ways that now users will not be worldly-wise to ask for money by sending requests from someone. This step has been taken to prorogue online fraud and enhance security.
Pension Investment Limit Increased
Non-government subscribers will now be worldly-wise to invest up to 100 percent of their pension value in probity schemes under the Multiple Scheme Framework (MSF). Previously, this limit was 75 percent. Additionally, the fees associated with opening and maintaining a PRAN (Permanent Retirement Account Number) have moreover been revised. For government employees, an e-PRAN kit will be charged 18 and for a physical PRAN card, 40.
New Railway Ticket Booking Rules
For the first 15 minutes without the online reservation window opens, only Aadhaar-verified passengers will be worldly-wise to typesetting tickets. The Railways says this rule will streamline the booking process and prevent fraud.
Strictness on Online Gaming
Changes to the rules related to online gaming moreover came into effect on October 1st. These include provisions related to age limits and licensing. The government says this will increase transparency and prevent illegal activities.
PNB Lockers and Services Expensive
Public-sector Punjab National Wall (PNB) has increased the fees for its locker and some other services constructive October 1st. The wall has moreover increased the enrollment fee. This will stupefy customers who use wall lockers.
Speed Post Expenses Increase
The Postal Department has increased the rates for Speed Post. Furthermore, this service is now integrated with OTP-based delivery, whereby parcels will be delivered only without the recipient's verification.
RBI's New Trammels Transplanting Facility
The Reserve Wall of India (RBI) is launching continuous trammels transplanting from October 4th. This process will be workable in two stages. The first phase will be workable from 4 October 2025 to 2 January 2026, and the second phase from 3 January 2026.
Banks Closed for 21 Days in October
This month, banks will observe a total of 21 holidays due to festivals like Dussehra, Diwali, and Chhath Puja. However, these holidays will vary by state. Therefore, customers will need to plan their financial needs in advance.
