Rules Change - Rules for everything from gas cylinders to fixed deposits have changed starting October 1st. Learn the full details.

Friends, as we all know, on the 1st of every month, the government changes many rules, including important rules and policies related to banking, UPI transactions, pension schemes, railway bookings, LPG prices, and online gaming. Similarly, several rules have changed starting October 1st. These updates aim to improve user experience, strengthen security, and provide greater flexibility to customers and stakeholders. Let's learn about the changed rules:

Banking and Loan Interest Rate Improvements

The Reserve Bank of India (RBI) has given banks the freedom to set floating interest rates on loans.

A floating rate is an interest rate that fluctuates based on market conditions or a related index.

From October 1st, banks will also be able to offer customers the option to switch from a fixed interest rate to a floating interest rate on existing loans.

Major Changes in UPI Payment Rules

The National Payments Corporation of India (NPCI) has discontinued the peer-to-peer 'Collect Request' (Pull Transaction) feature on the UPI platform.

This means that users will no longer be able to use the 'Request Money' option on apps like PhonePe, Google Pay, or Paytm.

Only direct 'Push' transfers will now be allowed.

This is intended to increase security in digital payments and reduce online fraud.

Pension Scheme Updates

Government employees had the option to switch between the Unified Pension Scheme (UPS) and the National Pension System (NPS) until September 30, 2025.

Switching between the two schemes will no longer be permitted after this date.

Non-government NPS subscribers can now invest 100% of their pension contributions in equity-linked schemes under the Multiple Scheme Framework (MSF) (the previous limit was 75%).

Changes in PRAN (Permanent Retirement Account Number) fees:

Government employees: ₹18 for an e-PRAN kit and ₹40 for a physical PRAN card.

Fees may vary for private and government sector subscribers.

New Train Ticket Booking Rules

From October 1, Indian Railways will prioritize Aadhaar-verified users for booking reserved general tickets.

Only Aadhaar-verified users will be able to book these tickets within the first 15 minutes of the booking window opening on the IRCTC website or app.

This change is intended to prevent ticket misuse and simplify booking.

LPG Cylinder Price Changes

Domestic LPG prices remained unchanged. However, the price of a commercial LPG cylinder (19 kg) increased by ₹15 from October 1.

This change is part of the regular monthly price revisions made by oil marketing companies.