Today, October 1st, several major changes are being implemented in the country, which will directly impact the daily lives and pockets of every citizen. These significant changes include the discontinuation of the P2P collect request feature in UPI, mandatory Aadhaar verification for railway ticket bookings, potential changes in LPG cylinder prices, and amendments to banking fees and pension rules. It is essential to understand these new rules so that you can plan your financial and daily activities wisely.
P2P Collect Request Facility Discontinued in UPI
The National Payments Corporation of India (NPCI) has taken the important decision to discontinue the P2P (person-to-person) collect request feature on UPI from today. Users will no longer be able to send requests for money; they will only be able to make direct payments. This strict measure has been taken to prevent online fraud, as many people were lured into approving requests and had money deducted from their accounts. Users will now be required to use push transactions to send money, making transactions more secure.
Aadhaar verification mandatory for railway ticket booking
A major change has been made to the railway ticket booking rules. Now, during the first 15 minutes of Tatkal ticket reservations, only passengers with a verified Aadhaar card will be able to book tickets. This strict rule will help prevent middlemen and the black market. The Railways has also clarified that the post-booking cancellation process will be tightened to reduce the possibility of fraud.
Potential Revisions in LPG Gas Cylinder Prices
Potential changes in LPG gas cylinder prices are expected to start today, directly impacting the kitchen budget of every household. The government has stated that slight adjustments may be made to LPG prices based on international market trends. However, these price changes may impact families’ monthly budgets, so subsidy schemes for those in need will continue.
Significant Amendments to Banking and Pension Rules
Significant amendments have also been made to banking and pension rules. To speed up the check clearing process, banks have adopted the Continuous Clearing System (CSC), which will increase the speed of fund transfers. Additionally, amendments have been made to the pension scheme process, and some new charges may apply to pensioners. Some changes will also be made to banking fees and service charges that impact customers.
New Transparency in Post Office Services
Starting today, new rules will be implemented for Speed Post and other post office services. These changes aim to enhance the quality of services and make the entire process more transparent and quicker. These unprecedented changes have been made to provide better service, security, and transparency to the general public. Therefore, consumers should be aware of these new rules and plan their financial and other transactions wisely.