December 1, 2022
New Rule: These 5 rules including card payment will change from tomorrow, know what will be the changes

If you are making up your mind about online shopping in the festive season of October, then this is very important news for you. Because according to the order of the Reserve Bank of India, the rules for making payment by credit card, debit card are going to change from October 1. The Reserve Bank of India is taking this step to check the cases of cyber fraud. These 5 rules are being changed including online payment from October 1.

1. Tokens will be used instead of cards

According to the instructions of the Reserve Bank of India, the system of tokenization will be implemented in the process of debit and credit card payments from October 1. After the implementation of this system, merchants, payment aggregators and payment gateways will not be able to save the information related to the card of the customers. The purpose of this exercise of RBI is to check fraud during card purchases.

2. Income tax payers will not get Atal Pension

Income tax payers will not be able to take advantage of Atal Pension Yojana from October 1. At present, people from 18 years to 40 years are getting the benefit of Atal Pension Yojana. Whether he is paying income tax or not. Under Atal Pension Yojana, people get a pension of 5000 thousand rupees every month.

3. Nomination has to be done before investing in mutual funds

Those investing in mutual funds on or after October 1, will be required to provide nomination details. Investors failing to do so will have to fill out a declaration. Declaration of not taking the facility of nomination will have to be made in the declaration.

4. It is necessary to fill the nomination in the National Pension Scheme

The Pension Fund Regulatory Authority has also recently made major changes in the e-nomination process of the National Pension Scheme. According to this change, on October 1, only NPS account holders will get the facility to fill e-nomination. After this change, the option of accepting or rejecting e-nomination will be available with the nodal office. If the Nodal Allotment Office does not initiate action against the request made within 30 days, the e-nomination request will be accepted in the system of Central Record Keeping Agencies.

5. Changes also in the rules of demat account

Today i.e. 30th September 2022 is the last date to complete the two-factor authentication of demat account holders. After this you will be able to login to your demat account. If you do not do this, then from 1st October i.e. tomorrow you will not be able to login to the demat account. After this, to login to the account, biometric authentication and then password will have to be entered.

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