New Delhi: Many changes are expected in the rules of the bank from October 1. This change can also have an impact on the pockets of their customers. In such a situation, it is important to know what these changes will be and how it will affect your pocket. It is better to know these rules in advance to avoid inconvenience while visiting the bank.
Pension Rule Changes: The rules related to digital life certificates are set to change from October 1. Pensioners aged 80 years and above in the country can submit their life certificates in all the major post offices in the country. Pensioners will have to submit a digital life certificate at Jeevan Pramaan Kendra at major post offices. Pensioners have been given time till November 30 to submit their digital life certificates. Pensioners will be able to submit their digital life certificates from October. To facilitate this, India Post has been directed to reactivate their Life Proof Center ID in advance so that elderly pensioners do not face any inconvenience during the process.
Old check books of these banks will be canceled: The old checkbooks and MICR codes of these three banks will be automatically canceled from October 1. These three banks are United Bank of India, Oriental Bank of Commerce and Allahabad Bank. These banks have recently been merged with other banks. Due to the merger, the account numbers, IFSC and MICR codes of their account holders have also changed. This is the reason why the new banking system will automatically reject all old checks from October 1, 2021.
Auto Debit Rules: RBI’s new rule for auto-debit on credit and debit cards will come into effect from October 1. Under this rule, auto-debits will not take place unless they have been approved by the customer.
As per the new rule that will come into effect from October 1, 2021, the bank will have to notify the customers 24 hours before any auto-debit payment.
The money will be debited from the customer’s account only on confirmation. A notification can also be sent to the customers by SMS or e-mail.
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