From UPI Payments to Railway Ticket Booking: 8 Major Rules Changing from today

 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, bank 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 means that now users will not be able to ask for money by sending requests from someone. This step has been taken to curb online fraud and enhance security.

Pension Investment Limit Increased

Non-government subscribers will now be able to invest up to 100 percent of their pension amount in equity 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 also 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 after the online reservation window opens, only Aadhaar-verified passengers will be able to book 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 also 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 Bank (PNB) has increased the fees for its locker and some other services effective October 1st. The bank has also increased the enrollment fee. This will affect customers who use bank 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 after the recipient's verification.

RBI's New Check Clearing Facility

The Reserve Bank of India (RBI) is launching continuous check clearing from October 4th. This process will be applicable in two stages. The first phase will be applicable 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 banking needs in advance.