From Mutual Fund And Cheque Book to Debit Card Payment: Major Rules to Change From Oct 1

According to details employees who are below 35-year of age and are not holding any department have to invest 10% of the compensation in units of their mutual fund schemes in the first year.

On the other hand, the Cheque Books of Allahabad Bank, Oriental Bank, and United Bank of India will be invalid from October 1.

However, the ATM machines of Suryoday Small Finance Bank will be shut down from October 01

"Due to operational reasons, Suryoday Bank ATMs will be discontinued w.e.f. 1st Oct 2021. However, one can continue to use their Suryoday Bank ATM/Debit Card at any other Bank's ATM for your cash withdrawal requirements," Suryoday Small Finance Bank mentioned on its website.

From October 1, the pensioner who has cross 80 will be available to submit their digital life certificate at the Jeevan Pramaan Centres, which are located in head post offices in India. They can also submit their digital life certificates till November 30, 2021.

Starting from Friday, the Reserve Bank of India (RBI) has said that the changes in the auto-debit rule will come into effect. Notably, the change is particularly important for customers who use a debit card for their recurring transactions. As per the new rules, all recurring transactions will need additional authentication. However, for payments exceeding Rs 5,000, a one-time password (OTP) will have to be validated by a customer each time a payment is due.

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