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New Bank rules from October 1: Details Inside

Banks

From October 1, several new rules will come into effect. These rules, which will affect daily lives of people, range from changes to the Pension Rule to those for bank cheque books.

Below are the five guidelines to be noticed:

◦ Pension Rule change: Starting October 1, pensioners, who are aged 80 and above, will have the option to submit their digital life certificates at “Jeevan Pramaan Centres” of respective head post offices in the country. To make this process more convenient, the deadline to complete which is November 30, the Indian Postal Department has been directed to reactivate IDs of these “Jeevan Pramaan Centres” in case IDs were closed.

◦ Cheque book Rule change: The first day of next month will see old cheque books and MICR (Magnetic Character Inc Recognition) code of three bans become invalid. These are: Oriental Bank of Commerce, United Bank of India and Allahabad Bank. Oriental Bank and United Bank, which merged with the Punjab National Bank (PNB), informed that old cheque books and pre-existing MICR and IFS (Indian Financial System) codes will be halted if not updated yet.

◦ Auto Debit Facility Rule change: Also from October 1, as mandated by the Reserve Bank of India (RBI), changes will be made to auto-debit facilities from debit/credit cards. Banks have been directed by the RBI to carry out an “additional factor authentication,” which means that monthly payment for subscriptions to over-the-top (OTT) platforms will not take place without the subscriber’s approval. The notification in this regard will be sent to the subscriber 24 hours ahead of the payment, and take place only after due approval.

◦ Investments Rule change: As announced by the Securities and Exchange Board of India (SEBI), junior employees working in asset under management, need to invest 10 per cent of their gross salary in units of that mutual fund. From October 2023, the requirement will rise to 20 per cent of gross salary.

◦ Closure of private liquor shops: In Delhi, no private liquor shop will be allowed to open till November 16, as mandated under the new excise policy of the Union territory government. Only government liquor shops will operate during this period.

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COVID 19

India logs over 2.35 lakh new COVID-19 cases, daily positivity rate down to 13.39 pc

India has reported 2,35,532 new COVID-19 cases and 871 deaths in the last 24 hours, said the Ministry of Health and Family Welfare on Saturday.
As per government data, there was a decline in the daily positivity rate to 13.39 per cent from 15.88 per cent on Friday. The weekly positivity rate also dipped to 16.89 per cent from 17.47 per cent yesterday.
India’s active caseload currently stands at 20,04,333 while the active cases account for 4.91 per cent of total cases.
With 3,35,939 recoveries from the infection reported in the last 24 hours, the cumulative recoveries mounted to 3,83,60,710. The recovery rate of the country has also improved to 93.89 per cent from 93.60 per cent on Friday.
In the last 24 hours, 17,59,434 tests were conducted, the ministry said.
The death toll is at 4,93,198 and the case fatality rate is 1.21 per cent.
In the ongoing COVID-19 vaccination drive across the country, 165.04 crore vaccine doses have been administered so far. Notably, India’s vaccination drive commenced on January 16, 2021.

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latest

BSF constable injured in encounter with smugglers; huge cache of drugs, arms seized

A BSF jawan was injured in an exchange of fire with Pakistani smugglers along the Indo-Pak border in Punjab’s Gurdaspur district on Friday, and the force recovered 47 kg heroin, two pistols and some ammunition, police said.
Gurdaspur Senior Superintendent of Police, Nanak Singh, told over the phone that 47 kg of heroin, two pistols, some live ammunition and seven packets of opium have been recovered.
The incident took place at 5:15 am in an area falling under border outpost Chandu Wadala.
“At about 5.15 am today, BSF jawan observed movement near the fence and fired on the Pakistan smugglers. Pakistan smugglers also retaliated and in the firing, one jawan got injured and is stable now,” said BSF in a statement.
The jawan suffered a bullet injury in his head during the exchange of fire between the Border Security Force (BSF) personnel and Pakistani smugglers, the SSP said, adding that he has been rushed to a hospital
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latest

Centre likely to issue advisory on reopening schools soon

The Union health ministry is likely to issue an advisory to states on reopening schools with Covid appropriate norms, sources in the government told. “The government is working on some model to open the schools due to increasing demands by parents. The health ministry has already asked its expert team to look into all the options for opening schools,” the sources said.

There has been increased pressure on the government from parents and schools to reopen education facilities as the number of Covid-19 cases in India declines.

Also Read: JKP Border Battalion aspirants submit memorandum to Div Com Jammu

A few states and Union territories have already announced the reopening of schools for classes 10 to 12 with the condition that students between the age group 15 to 18 can attend offline classes only if they had had at least one dose of vaccination. In addition, all staff and students above 18 must be vaccinated with both doses.

Despite being among the worst-affected states, Maharashtra has reopened school for all classes. Haryana and Chandigarh have announced the reopening of schools for classes 10 to 12. Delhi government has recommended the same to Lt Governor. Tamil Nadu government is also expected to make a similar announcement soon.

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Covid-19 Stats

29 Jan 2022, 10:04 AM (GMT)

Coronavirus Stats

40,858,241 Total Cases
493,218 Death Cases
38,360,710 Recovered Cases

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