From today, that is, with the beginning of the month of October, many financial and non-financial changes are going to be implemented. These include changes ranging from Unified Payments Interface (UPI) to railway ticket booking. These changes will directly affect the common man.
Let’s learn more about these changes …
NPCI will discontinue bridge transaction facility: Person-to-Persen (P2P) on UPI platforms like National Payments Corporation of India, PhonePe, Google Pay and Paytm will discontinue ‘Collect request’ or ‘Pul Transaction’ facility. This means that now you will not be able to ask for money from anyone. This step has been taken to increase user security and prevent online fraud.
100% investment in equity-linked schemes: Non-government customers will now be able to invest up to 100% of their pension amount in equity-linked schemes under Multiple Scheme Framework (MSF). Earlier this limit was 75%. In addition, the fee for opening and maintenance of PRAN (permanent retirement account number) has also been amended. Government employees will be charged ₹ 18 for e-pran kit and ₹ 40 for Physical Pran Card. The fee will vary for private and government sectors NPS customers.
Only base-based users will be able to book reserved tickets: From October 1, only the base-conditioned users will be able to book reserved tickets for the first 15 minutes after opening the online reservation window. This rule has been announced to prevent misuse and to streamline booking.
Online gaming rules will change: To promote transparency, online gaming rules will also change from 1 October. These include rules related to age limit and license requirements.
Lockers in PNB will be expensive: Public sector Punjab National Bank (PNB) is going to increase its locker and some other services fees from October 1. This will make it expensive to keep a locker in the bank. Also, the registration fee will also increase.
Sending speed post will be expensive: From October 1, the cost of sending speed post through the postal department will be higher. The department is increasing the fees of this service. In addition, the speed post will also be linked to the OTP-based distribution system. This will ensure delivery only after verification of the recipient.
RBI launched a new check clearance facility: Taking a big step towards fast payment, RBI will start clearing continuous check from October 4. According to several reports, this facility will be implemented in two stages. The first phase will run from October 4 to January 2, 2026. The second phase will start from January 3, 2026.
Banks will remain closed for 21 days: Banks will remain closed for 21 days in October, including festivals like Dussehra, Diwali and Chhath Puja. However, these holidays will vary from different states. Therefore, people are advised to plan their banking activities accordingly.
