These new rules will be implemented in Banking, ATMs, railways, airline services from May 1 | All you need to know
New Delhi | Jagran News Desk: Amid the coronavirus pandemic which has brought the nation to a standstill, with almost every sector halting its operations and facing losses, many rules including those for banking, ATMs, airlines and railways are going to change from May 1 (today).
However, the lockdown imposed due to the coronavirus pandemic which has afflicted more than 33,000 people across the country, has disrupted the rail and air services, still rules related to these services have been changed.
Here are some of the rules which will change from May 1 and will effect the common man:
New interest rates for saving accounts holder in State Bank of India (SBI)
Customers depositing more than Rs 100,000 in SBI savings account will get less interest from May 1. For deposits up to Rs 1 lakh, SBI will offer an interest rate of 3.50 per cent per annum, while for deposits of more than Rs 1 lakh, the interest will be 3.25 pr cent, which is 2.75 per cent below the repo rate.
This comes after the Reserve Bank of India (RBI) cut its repo rate, at which it lends money to commercial banks, by 25 basis points from 6.25% to 6%.
Change in rule for PNB account holders
The e-wallet or digital wallet of Punjab National Bank has been discontinued by the lender from May 1. However, the PNB customers who have been using the digital wallet can spend the amount in it or transfer the amount through IMPS to another account.
“User can close wallet account only if balance is zero. If the balance is not zero, the user has to either spend money or send it to other accounts using IMPS. “When the customer wants to change the registered mobile in the bank, he has to first spend the balance amount in the wallet and close the wallet. Otherwise, he will not be able to change his mobile number in the branch”, PNB said in a statement.
Full pension will be provided to the pensioners
The Employees Provident Fund Organisation (EPFO) has decided to start giving out full pension from May 1 to those chose the commutation option at the time of retirement. A commutation is an option given to pensioners to convert a part of their monthly pension into an upfront lump sum payment at the time of their retirement. The decision by the EPFO will likely to benefit around 6,30,000 pensioners across the country every month and will cost the government Rs 1,500 crore.
Change in ATM rules
A new system will be put in place for ATMs to prevent coronavirus infection. According to the new rule, an ATM will be cleaned to make it infection-free after every use. It has been started in Ghaziabad and Chennai. In a hotspot, now the municipal corporation will sanitise an ATM twice a day. If sanitation rules are not followed, the ATM chamber will be sealed.
Change in boarding station rules
Even though the rail services are at a halt due to the lockdown, Indian railways have changed some rules from May 1 which will be implemented as soon as the services will be restored.
In the new rule, a passenger can now change their boarding station four hours before the release of the reservation chart. According to the existing rule, a passenger can change the boarding station 24 hours before the date of travel. However, if a passenger doesn’t travel and cancel their ticket after changing the boarding station, they won’t get any refund.
Change in Airline rules
Air India passengers will not have to pay any extra charge on cancellation of tickets from May 1. The airline has abolished the cancellation charge rule, in case passenger cancel or change their ticket within 24 hours of booking.
Posted By: Talib Khan