From auto-debit to the Demat account …, many major rules have changed from today
New Delhi: Several rules related to the banking and financial sectors are changing as of today, that is, with the change of the check books of three banks, the relevant rules of credit, debit cards will also be modified. The Reserve Bank of India has made it mandatory to use certain new security features for a direct debit facility to its bank account as of October 1, 2021. In accordance with new rules issued by the RBI, those who use direct debit l The institution may need to manually perform some automatic debit transactions from October 1 to pay the same monthly installments from the reimbursement invoice or their bank account. Let us know what changes from today: –
Closed checkbook: As of today, three banks – Oriental Bank of Commerce, United Bank of India and the old Allahabad Bank checkbooks, Magnetic Ink Character Recognition (MICR) and Indian Financial System Code (IFSC) will no longer work. Allahabad Bank merged with Indian Bank. It has been in effect since April 1, 2020. Oriental Bank of Commerce and United Bank of India have merged with Punjab National Bank. Customers of these three old banks were asked to take out new check books by September 30.
Demat account: To open a Demat way trading account, the investor will now need to provide nomination information.
Automatic debit: The new rule on automatic debit of debit and credit cards came into effect as of today. According to the RBI ordinance, banks and other financial institutions will be required to require additional factor authentication from customers for an automatic debit deposit of over Rs 5,000 on debit and credit cards or wallets. mobile. By virtue of this, direct debits from debit / credit cards or mobile wallets will not take place unless the customer approves it themselves. Banks or financial institutions will need to send direct debit messages to customers 24 hours in advance for approval. The new rule will have no impact if the direct debit is made directly from the bank account.
Price of gas cylinders: As of today, the price of a 19kg commercial LPG bottle in Delhi has increased from Rs 1,693 to Rs 1,736.50. In Kolkata it was priced at Rs 1,805.5 with the same cylinder selling for Rs 1,685 in Mumbai and Rs 1,867.5 in Chennai as of today.
Pension: From today, retirees aged 80 and over will be able to present digital life certificates. The deadline for this has been given until November 30, 2021. The certificate must be submitted to the proof of life centers of the respective post offices in the country. Specify that the life certificate is proof of the pensioner’s survival. In order to continue the pension, it must be deposited annually in the bank or financial institution where the pension comes from.
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