Major Rule Changes From October 1: What's New For NPS, Bank Charges, Rail Travel And Cheques

Starting October, a series of new rules and changes will roll out across India, spanning everything from finance and travel to postal services. The impact of these changes is likely to be felt in daily life, with changes such as revised bank fees, updated pension regulations, alterations in railway ticketing norms, and higher charges for Speed Post. Here’s an overview of what to expect.

HDFC Bank has announced fresh eligibility rules for its Imperia programme from Oct. 1. Customers enrolled on or before June 30, 2025, will need to fulfill the updated Total Relationship Value (TRV) requirement to continue enjoying premium benefits.

The Reserve Bank of India (RBI) has said cheque processing will shift to a continuous clearing system with settlement upon realisation starting Oct. 4. The rollout will take place in two stages: the first from Oct. 4 to Jan. 2, followed by the second one on Jan. 3.

Punjab National Bank has announced a revision in certain service charges that will come into effect on Oct. 1. The updated fees include increased locker costs, penalties on unsuccessful standing instructions and changes in nomination-related charges.

The Indian Railway Catering and Tourism Corporation (IRCTC) is introducing fresh rules for booking general tickets online via its website and mobile app from Oct. 1. These guidelines apply to users verified through Aadhaar. It is aimed at curbing the misuse of the reservation system by fraudulent agents.

From Oct. 1, Yes Bank will bring in revised charges for its Smart Salary accounts. The updated schedule covers areas such as cash handling, ATM usage limits, debit card fees and penalties on cheque returns.

Sending parcels through Speed Post will cost more from Oct. 1, with India Post revising its tariffs across various categories. Alongside the price update, customers will see GST listed separately for greater transparency, while added features such as OTP-based delivery will enhance security and convenience by ensuring parcels are handed over only after verification.

From Oct. 1, the Pension Fund Regulatory and Development Authority (PFRDA) will introduce revised charges for Central Recordkeeping Agencies (CRA) managing the National Pension System and related schemes. 

On the same date, non-government subscribers will also gain greater investment freedom, with the option to allocate their entire portfolio to equities.

Government staff can switch between the Unified Pension Scheme (UPS) and the National Pension System (NPS) only up to Sept. 30. Sifting from one scheme to the other will not be permitted after this date.