Rules Changing from 1 October 2022: The month of September is over and with the beginning of October, many rules related to the bank are going to change. The average person’s life will be directly impacted by these changes. Card-on-file tokenization regulations will be implemented by the Reserve Bank of India starting the next month for users of credit and debit cards. In addition, if you intend to invest in the Atal Pension Yojana, be aware that the government will begin making significant modifications to the program’s guidelines this month. This month will also see some significant adjustments to the National Pension Scheme and Demat account laws. Let us tell you about the changes in those rules, which are going to have a direct impact on the lives of the people around-
Credit and Debit Card Tokenization Will Be Applicable
The Reserve Bank of India has made necessary changes in the rules of credit and debit cards to curb the increasing cases of cyber fraud in the country. Beginning on October 1, the RBI will enforce the card-on-file tokenization regulations for users of credit and debit cards. The card payment system will undergo significant modification after this rule is put into effect. You will no longer have to enter your card number, CVV number, etc. details while making payments on the merchant’s website while making card payments. Instead, you will be able to make payments easily by just entering the token number. With this, clients will be protected from cybercrime and their card information won’t leak.
There is going to be a big change in
There is going to be a big change in the rules of Atal Pension Yojana of the Central Government from October 1 in Atal Pension Yojana. Taxpayers will no longer be able to participate in this plan as of October 1. Given information about this matter, the government issued a notification. According to this notification, starting on October 1 a person who pays income tax will not be eligible to benefit from this program (APY). 40 years can be included in this pension scheme of the government.
Changes in the rules of NPS e-nomination The
The Pension Fund Regulatory Authority (PFRDA) has recently made major changes in the process of e-nomination of the National Pension Scheme. The ability to nominate someone electronically will be available to NPS users starting on October 1 under the new rule. The Nodal Officer will have the authority to approve this e-nomination. The nomination application will be submitted to the CRA if no action is taken within 30 days of the nomination being filed. Central Record Keeping Agency.
There will be a change in the rules of Demat account
Demat account is now more secure than before. The National Stock Exchange (NSE) issued a notification on June 14 that it is necessary to enable two-factor authentication in Demat accounts by September 30. From October 1 onward, users won’t be able to access their Demat accounts without this. Now to log in to the account, first, you have to enter the biometric authentication and then the password. This will put an end to instances of Demat account fraud.
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