New Delhi | Jagran Business Desk: As we inch closer to a new calendar month on October 1, many changes in pension rules and bank cheque books will come into effect that we must be aware of. Since these changes will impact everyone's lives in one way or another, one must pay attention to them in order to be prepared in advance and to avoid any future obstacles.

Here is a look at 5 changes to keep an eye on starting October 1:

1. Change of pension rules

Beginning October 1, the rules for digital life certificates will change. This is intended for people over the age of 80. In October, pensioners over the age of 80 will have a facility to submit a digital life certificate at any of the country's Head Post Offices' Jeevan Pramaan Centers. The deadline for this task is November 30, 2021. As a result of the broad nature of this task, the Indian Post Office has been asked to activate the IDs of these Jeevan Pramaan Centers even though they are already closed.

2. Auto Debit Facility Rule Change

All Standing Instructions set up on your credit card and debit card (both domestic and international) will not be processed, without the additional factor of authentication. In addition, mandate registration, modification, deletion will require Additional Factor Authentication (AFA). Customers will get a pre-debit (SMS/e-mail) notification 24 hours prior to the debit. This implies that your monthly payments, as well as monthly auto-debit transactional subscriptions like Netflix and Amazon Prime, will not be processed until you give your permission.

3. Change in checkbook rules

From the next calendar month, the old checkbooks and MICR codes of three banks will be invalid, including Oriental Bank of Commerce (OBC), United Bank of India, and Allahabad Bank. The banks used Twitter to announce the changes, which came as a result of their recent mergers with Punjab National Bank.

4. Private liquor stores to close

From next month, private liquor stores will be closed until November 16, 2021. Until then, it will only be sold by government agencies. Delhi Deputy CM Manish Sisodia said that under the new excise tax policy, the process of allocating licenses was done by dividing the capital into 32 zones. Due to this rule change, after November 17, only shops subject to the new policy will be allowed to operate.

5. Investments to undergo rule change

With effect from October 1, junior employees of asset under management businesses will be required to invest 10 per cent of their gross salary in units of that mutual fund. The rule aims to protect the mutual fund investors' interests and has been enacted by the Securities and Exchange Board of India (SEBI).

Posted By: Sugandha Jha