Today 1st October is the beginning of a new month. Many rules changed by the government in the last few days are being implemented from today, which will have a direct impact on the pocket of the common man. In such a situation, you should know all those new rules, so that you can deal with those works in time.
This includes rules like Atal Pension Yojana, mutual funds, interest rate on small schemes and card tokenization. Let us know in detail…..
Atal Pension Yojana A big change has happened in the Atal Pension Yojana run by the Central Government from October 1. Now any person paying income tax cannot join this scheme. At present, any person between the age of 18 to 40 years can join this pension scheme. Under this scheme, after attaining the age of 60 years, a pension of up to Rs 5,000 is given to the person.
Card Tokenization The government has decided to implement the card tokenization system to protect people from online frauds. It has come into effect from 1 October. After this, no merchant website will be able to store your credit and debit card related information while making payment. Instead you can easily pay by just entering a token number.
Nomination in Mutual Funds
According to the new rule applicable from October 1, it has now been made mandatory for people investing in mutual funds to give their nominee details. If an investor does not provide the nominee details, he/she will have to fill up a declaration form stating that he/she has decided not to avail the facility of nomination.
Interest on Small Savings Schemes The interest rate increased by the Central Government on September 29 on small savings schemes such as Kisan Vikas Patra and Senior Citizens Savings Scheme has come into effect from October 1. The new interest rate is valid for the period October – December 2022.
