Rules Changing from 1 October 2022: The month of September has come to an end and with the beginning of the month of October, many rules related to the bank are going to change. These changes will have a direct impact on the life of the common man. From next month, the Reserve Bank of India is going to implement the card-on-file tokenization rule for credit and debit card users. Apart from this, if you are planning to invest in Atal Pension Yojana, then let us tell you that the government is going to make major changes in the rules of this scheme from this month. Along with this, some important changes are also going to be made in the rules of National Pension Scheme and Demat Account this month. Let us tell you about the change of those rules, which is 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 check the increasing cases of cyber fraud in the country. RBI is going to implement the card-on-file tokenization rule for credit and debit card users from October 1. After the implementation of this rule, there will be a big change in the card payment system. Now you will not have to fill in details like your card number, CVV number, etc. while making payment on the merchant website while making card payment. Instead, you will be able to make payment easily by just entering the token number. With this, your card data will not be leaked and customers will be safe from cybercrime.
Big changes going to happen in Atal Pension Yojana
There is going to be a big change in the rules of Atal Pension Yojana of the Central Government from October 1. Now from October 1, taxpayers will not be able to join this scheme. Giving information on this matter, the government had issued a notification. It has been said in this notification that if a person pays income tax, then he will not be able to take advantage of this scheme (APY) from October 1. According to the existing rules, any Indian citizen between the age of 18 years to 40 years can join this pension scheme of the government.
NPS e-nomination rules change
The Pension Fund Regulatory Authority (PFRDA) has recently made a major change in the process of e-nomination of the National Pension Scheme. According to the new rule, now NPS subscribers will get the facility of e-nomination from October 1. NPS account holder will be able to do e-nomination for his account. Acceptance of this e-nomination will be within the jurisdiction of the Nodal Officer. If no action is taken within 30 days of filing the nomination, the nomination application will go to the CRA i.e. Central Record Keeping Agency.
There will be change in the rules of demat account
Demat account is now more secure than before. The National Stock Exchange (NSE) has issued a notification on June 14 stating that it is necessary to enable two-factor authentication in demat accounts by September 30. Without this, users will not be able to login to the demat account from October 1. Now to login to the account, one has to first enter the biometric authentication and then the password. With this, cases of fraud related to demat account will be stopped.
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