People will face big changes from 1 October. | 5 Big Changes' which can have a direct impact on your pockets.

 

People will face big changes from 1 October:

The month of October is about to start with the festive season. With the new month i.e. October 1, many big changes are going to be implemented once again, which can have a direct impact on our pockets. So what is this change? 

It is very important to know about them in advance so that you do not have any kind of problem. These include changes in the prices of bank debit, credit cards, and LPG. Let us tell you one by one what changes are going to happen from October 1.

RBI is going to implement card-on-file tokenization from 1st October 2022. It is believed that after the implementation of the tokenization system, the payment experience of the card holders will improve and the transactions of debit or credit cards will be more secure. Let us tell you that till now when you make payment by debit or credit card, your card information is saved on the respective website, and because of the increasing cases of online fraud. 

Now the government is changing the rules, which will increase the incidence of fraud can be stopped. During this new transaction, a token will be generated and payment will be done from it. Once implemented, merchant payment aggregators and payment gateways will no longer be able to store customer card information. 

According to the Reserve Bank, after the implementation of the tokenization rule, whenever a customer makes an online point of sale or transaction with a debit or credit card, then all the details related to the account will be from the encrypted code. After the implementation of the tokenization system, the cases of online banking fraud will come down.

Along with this, if you invest in mutual fund, then this news is for you. Those investing in mutual funds on or after October 1, will be required to provide nomination details. Investors who do not do the same will have to file a declaration. In the declaration, a declaration will have to be made of not taking the facility of nomination. 

Agent Management Companies i.e. AMC will have to provide the option of nomination form or declaration form in physical or online mode as per the requirements of the investor. The physical form will have the investor's signature, while in the online form, the investor will be able to use the signature facility.

 Let us tell you that earlier this rule was to be implemented from August 1, 2022. However, this could not happen and this deadline was extended to 1 October 2022. Now it will be implemented from next month. If you invest in mutual funds, keep this in mind.

On the other hand, if you buy or sell shares in the stock market, then this news is very useful for the demat account holders. The National Stock Exchange (NSE) issued a circular on June 14, in which it has been said that the demat account holders must enable two-factor authentication by September 30, 2022.

Same if you will not enable two-factor authentication then you will not be able to log in to your demat account from 1st October 2022. According to the new circular, NSE says that the account holder will have to use biometric integration as two-factor authentication to log in to his demat account. The second way is knowledge of pattern or password PIN or any position factor, which is only known to the user.

At the same time, from October 1, there is going to be a big change in the rules of the government's most popular Atal Pension Yojana. Those who invest in this scheme get a monthly pension of up to five thousand rupees. Under the new rules of the central government, now people paying income tax will not be able to take advantage of this scheme. This new rule will be effective from October 1, 2022.

In such a situation, taxpayers still have a chance to take advantage of the Atal Pension Yojana. You can invest in it even if you are a taxpayer till 30th September. According to the current rule, any Indian citizen between the age of 18 years to 40 years can join this pension scheme with the government. Whether he pays income tax or not.

Let us tell you that after increasing the repo rate of RBI, most of the banks in the country have increased the interest on FDs. In such a situation, now the interest rates available in Post Office, Small Saving Scheme like PPF, Senior Citizen Saving Scheme, and Sukanya Samriddhi Yojana can increase. It is expected that on September 30, new interest rates may be announced on the small savings schemes of the post office.

Let us tell you that the prices of LPG gas cylinders are reviewed on the first of every month. In such a situation, it is also believed that this time also there may be some increase in the price of LPG from October 1. If this happens then it will also have a direct impact on your pocket. So you should keep an eye on it.

According to media reports, now the rule has changed to take advantage of the free electricity facility in the capital Delhi. The subsidy given by the Delhi government on the electricity bill will be stopped after September 30. Now only the consumers who have applied for the subsidy will get its benefit. Chief Minister Arvind Kejriwal had recently announced this rule.

Along with this, with the onset of winter, the problem of pollution in Delhi NCR increases. Graded Response Action Plan will be implemented in Delhi NCR from October 1 to fight against air pollution. Let us tell you that during winter, air pollution in Delhi NCR reaches dangerous levels. 

In the Graded Response Action Plan, all those activities which work to increase pollution are banned. In such a situation, it will affect everyone from smoke-spreading generators to vehicles.

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