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Thursday, June 30, 2022
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Rules which will change from October 1

Come October 1 and many rules are going to change which will have a direct impact on your life because these changes in rules are linked with banking, financial and other sectors. 

From pension rules to others related to banks, it is important to be aware of these fresh guidelines:

1) Cheque book rule: Cheque books of account holders of Oriental Bank of Commerce (OBC) and United Bank of India will get discontinued from October, Punjab National Bank PNB) had said, alerting its customers. The account holders of these banks will need to get new cheque books from their PNB branch. They can also apply for a new cheque book through an ATM, using internet banking or PNB One or by contacting customer care.

From October 1, 2021, the PNB cheque books with updated PNB IFSC and MICR will be valid and all customers are required to get the updated cheque books. For any queries, customers can contact 1800-180-2222.

2) Auto debit facility rule: Also from October 1, Due to the new security features mandated by the Reserve Bank of India (RBI), those who use auto-debit facility to pay recurring bills or EMIs from their bank accounts may have to process some of these transactions manually.

3) Pension rule: From October 1, pensioners, who are 80 years old and above, will have the option to submit their digital life certificates at “Jeevan Pramaan Centres” of respective head post offices in the country.

4) Investments rule: As announced by the Securities and Exchange Board of India (SEBI), junior employees working in asset under management, need to invest 10 per cent of their gross salary in units of that mutual fund. F

5) Closure of private liquor shops: In Delhi, no private liquor shop will be allowed to open till November 16 under the new excise policy of the Union territory government. The shops that will be shut will reopen from November 17 under the New Excise Policy, till then liquor will be sold only at government shops.

The above news was originally posted on www.dnaindia.com

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