New Delhi: Starting October 1, major financial changes have come into effect, impacting railway passengers, digital payments, pension contributors, and households using LPG cylinders.
1. Railways: Aadhaar Verification for Online Tickets
In a move to curb black marketing, the Railway Board has made Aadhaar verification mandatory for booking train tickets online during the first 15 minutes after the reservation window opens. The rule, earlier applicable only to Tatkal tickets, will now apply to all online reservations. Bookings through PRS counters remain unaffected.
2. UPI Transactions: Limit Raised, Features Modified
Digital transactions under the Unified Payments Interface (UPI) will also undergo significant changes. The daily transaction limit has been increased from ₹1 lakh to ₹5 lakh, reducing the need for frequent bank visits. However, the “collect request” or pull feature has been discontinued to curb online fraud. Additionally, an auto-pay option will now appear during bill payments, allowing customers to set up automatic debit facilities.
3. SBI Card Charges
Holders of SBI cards will see revised charges from today. A 1% fee will be levied on education-related payments made through third-party apps. The same charge will apply to wallet loads above ₹1,000, as part of the bank’s new policy framework.
4. Pension Contributions and Fees
The minimum monthly contribution under the National Pension System (NPS) has been raised from ₹500 to ₹1,000, aimed at strengthening retirement savings. At the same time, the fee for opening a new Permanent Retirement Account (PRA) number under the Atal Pension Yojana (APY) and NPS has been fixed at ₹18. The overall fee structure has also been simplified for government employees.
5. LPG, CNG, and PNG Price Revisions
Households and commercial users will face revised rates for LPG cylinders, as well as changes in CNG and PNG prices. Importantly, LPG subsidy benefits will only be credited if the consumer’s bank account is linked with Aadhaar. Without linkage, no subsidy will be transferred.
