Financial Changes From October 1: Higher Bank Charges, New Pension Rules, and More

HDFC Bank

Premium service customers who joined on or before June 30, 2025, must now meet a revised Total Relationship Value threshold to retain benefits.

Punjab National Bank

Service charges will rise, including locker rents and fees for failed standing instructions and nomination services. Charges vary by locker size and branch location.

YES Bank

Salary account customers will see updated fees for cash transactions, ATM usage, debit cards, and cheque returns.

RBI

From October 4, cheque settlement will move to continuous clearing, allowing real-time processing instead of batch-based settlement. This will make funds available faster.

Railways and Postal Services

Indian Railways

Aadhaar-based verification will be mandatory for online booking of general tickets, reducing misuse by touts and unauthorised agents.

India Post

Speed Post tariffs will increase, and an OTP-based delivery system will ensure parcels are delivered only to verified recipients.

Pension Changes

The Pension Fund Regulatory and Development Authority (PFRDA) has revised service charges under the National Pension System (NPS). Non-government subscribers can now invest up to 100% of their corpus in equities under a single plan.

Central government employees

September 30 was the last date to switch between the Unified Pension Scheme and NPS. Transfers will no longer be allowed from October.

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What This Means for You

These changes across banking, pensions, and public services signal higher costs and tighter compliance. Customers may need to review bank accounts, pension allocations, and travel booking practices to avoid unexpected charges or restrictions.

Conclusion

With new rules affecting banks, pensions, railways, and postal services, staying informed and planning ahead can help avoid extra costs and ensure smooth financial transactions.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.