5 changes for all from October - YP Buzz Finance

 YP Buzz -

                With the start of the new calendar month on October 1, many changes will take effect. There have been major changes in just five days so you should be careful to avoid any unnecessary obstacles and easily prepare yourself.

                                                                           

Finance

These changes in regulation will have an impact on the daily lives of everyone in some way, shape, or form. Here are five changes to look at at the start of next month, from changes to pension laws to changes in bank checkbooks.


1) Pension Rule Change

The rules governing digital health certificates will change from October 1, 2021. Anyone over the age of 80 is eligible. In October, retirees over the age of 80 will be able to present their digital life certificates at any of the Jeevan Pramaan Centers. The graduation date is set for November 30, 2021. The Indian Post Office has been asked to verify that the Jeevan Pramaan Centers' IDs are valid even though they are already closed due to the extent of the allocation.


2) Change Test Code

The old checkbooks and MICR codes of the three banks will no longer be valid at the beginning of the next calendar month. Oriental Bank of Commerce (OBC), United Bank of India, and Allahabad Bank are the three aforementioned banks. Banks have used Twitter to announce the changes, coming as a result of their recent merger. Through the official Twitter account of Punjab National Bank, Oriental Bank of Commerce (OBC) and United Bank of India, which have merged with Punjab National Bank, have announced that if old checkbooks and MICR codes are available and IFSC codes can be renewed in October, they would be suspended.


3) Changes to the Automatic Billing Rules

The Reserve Bank of India (RBI) recently authorized an automatic debit center from your credit/debit card to make some adjustments. The central bank specifically required all banks to undergo 'Factor Factor Authentication. 'This means that your monthly energy bills, as well as automated monthly payments such as Netflix, Amazon Prime, and others, will not be processed until you have given your consent. The right bank will send clients a notification 24 hours before payment, and if you authorize and confirm the transaction, the money will be credited to your account. This notification can be sent via SMS or email.


4) Investment in Law Reform Investments

The Securities and Exchange Board of India (SEBI) has enacted legislation that protects the interests of investors. The law will apply to junior employees working for the Asset Under Management Company (AMC), commonly referred to as the Mutual Fund House. From October 1, 2021, smallholder employees under management enterprises will be required to invest 10% of their gross income in the units of this cooperative fund. Following the step-by-step model, these employees will be required to invest 20% of their salary by October 2023. There will be a period of closure for this investment.


5) Private Liquor Store Closure

Private liquor stores will be closed early next month and will remain closed until November 16, 2021. Until then, only government stores will be open for businesses. According to Deputy Prime Minister Manish Sisodia, the new commodity policy divides the capital into 32 areas for licensing purposes. From November 17 onwards, only stores under the new policy will be able to operate, according to the new guidelines.


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YP Buzz

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