Rules that will change from October 1

Come on October 1st and many rules will change which will have a direct impact on your life as these rule changes are related to banking, finance and other industries.

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

1) Checkbook rule: Checkbooks for Oriental Bank of Commerce (OBC) and United Bank of India account holders will be deleted from October, Punjab National Bank PNB said, alerting its customers. Account holders of these banks will have to obtain new check books from their PNB branch. They can also request a new checkbook through an ATM, using online banking or PNB One, or by contacting customer service.

From October 1, 2021, PNB check books with updated IFSC and MICR PNB will be valid and all customers are required to obtain updated check books. For any questions, customers can contact 1-800-180-2222.

2) Direct debit facility rule: Also from October 1 Due to new security features mandated by the Reserve Bank of India (RBI), those who use the automatic debit feature to pay recurring bills or IMEs from their bank accounts may need to process certain of these transactions manually.

3) Pension rule: From October 1, retirees aged 80 and over will have the opportunity to submit their digital life certificates at the “Jeevan Pramaan Centers” of the respective post offices nationwide.

4) Investment rule: As announced by the Securities and Exchange Board of India (SEBI), junior employees working in assets under management must invest 10 percent of their gross salary in shares of this mutual fund. F

5) Closure of private liquor stores: In Delhi, no private liquor stores will be allowed to open until November 16 under the new excise policy of the Union Territory government. The stores that will be closed will reopen from November 17 under the new excise policy, until then alcohol will only be sold in government stores.


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