Changes in banking and other rules from 1 October 2022: There are only a few days left in the month of September. After this the month of October will start. At the beginning of the new month, there will be some changes related to your expenses. The new rules related to demat account from Government Pension Scheme (APY) will be applicable from October 1.
Along with this, the price of domestic LPG is also likely to change. Also, the Reserve Bank of India (RBI) is going to make a big change regarding the credit card. (Banking and other rules change from 1 October 2022)
LPG gas rate hike?
On the first day of every month, state oil companies revise the prices of LPG. , The last time there was no change in the prices of domestic LPG cylinders was on September 1. However, the price of commercial gas cylinders was reduced. In view of the festive season, companies are expecting a cut in the prices of LPG.
What is the advantage of card tokenization?
Payment terms to change from October 1 After that the transaction is completed. When card details are stored in an encrypted manner, the risk of fraud is greatly reduced. Tokenization will convert your card information into an alternate code. With the help of this code payment will be possible. The main objective of RBI token system is to curb the increasing cases of cyber frauds across the country.
From October 1, the alternate codes or tokens issued to payment companies in lieu of cards will be unique and the same token will work for multiple cards. Under the token system, the token number will be issued by card networks such as Visa, MasterCard and RuPay. Some bank card networks may require approval from the bank before issuing tokens. The special thing is that the user will not have to pay any extra fee to take advantage of this new facility.
Changes in Atal Pension Yojana Rules
Atal Pension Yojana is a central government scheme. Those investing in this scheme get a monthly pension of up to Rs 5000. There will be a change in this plan from October 1. According to the new rules, income tax payers will not get the benefit of this scheme. If you are a taxpayer then you have time till 30th September to invest in this scheme. As per the current rules, any person between the age of 18 years to 40 years can take advantage of this government scheme.
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demat account
A demat account is required for trading in the stock market. Many trades in the stock market. Now two factor authentication is mandatory for demat account holders. You have to enable the two factor authentication option in your demat account by 30th September. Without this you will not be able to open your demat account.
Repo rate hike?
The monetary policy review meeting of the Reserve Bank of India (RBI) will be held in the coming week. The Reserve Bank will announce the interest rate on September 30. The Reserve Bank may increase the repo interest rate to curb rising inflation. In such a situation, the loan is going to be expensive.
Changes in banking and other rules from 1 October 2022 sz
