What changes from October 1: Key financial and regulatory updates

From October 1, several banks, government departments, and regulatory bodies in India will roll out important updates, covering areas such as banking charges, pension rules under NPS, and RBI cheque clearing norms.

HDFC Bank, RBI, PNB, IRCTC, YES Bank, India Post, and PFRDA are set to roll out a series of financial and regulatory changes that will directly affect the public.

These updates range from revised banking fees and pension rules to new railway ticketing guidelines and increased Speed Post tariffs, reflecting a broad spectrum of changes.

Also Read: Explained: UPI rule change, tax relief, and GST update from April 1

HDFC Bank changes for Imperia customers

HDFC Bank has informed its Imperia customers via email that revised criteria for maintaining a Total Relationship Value (TRV) will take effect on October 1.

Customers enrolled in the Imperia programme must now meet revised eligibility standards. For those customers who joined on or before June 30, the new rules will also apply starting October 1, the bank clarified.

RBI cheque clearing

The Reserve Bank of India (RBI) announced that, from October 4, cheque processing will shift from the current batch clearing method to a continuous clearing system with settlement upon realisation.

The transition will take place in two phases: the first will begin from October 4, to January 2, 2026, and the second beginning from January 3, 2026.

PNB revises service charges

Punjab National Bank (PNB) has announced modifications to several service fees effective October 1. The changes impact locker rentals, standing instruction (SI) failure charges, nomination fees, and stop-payment instructions.

While stop-payment fees remain unchanged, locker charges have risen significantly across multiple categories, depending on locker size and the branch location.

New IRCTC ticketing rules

The Indian Railway Catering and Tourism Corporation (IRCTC) will implement fresh guidelines for online reservation of general tickets through its website or mobile app starting October 1.

The revised rules apply to Aadhaar-authenticated users and are aimed at preventing misuse of the ticket reservation system, IRCTC stated.

YES Bank salary account updates

Starting October 1, YES Bank customers will face revised charges for salary accounts. YES Bank will revise its Smart Salary account charges.

Key changes include updates to cash transaction fees, ATM withdrawals, debit card charges, and penalties for cheque returns.

Also Read: What changes on Sept 1: PNB KYC updation, lower insurance premium, and more

Speed Post tariff changes

India Post will hike Speed Post rates from October 1. The revised structure includes transparent pricing with GST displayed separately, along with enhanced security and convenience features.

Customers can now opt for OTP-based delivery, ensuring parcels are handed over only after one-time password verification.

The Press Information Bureau (PIB) said the upgrades aim to make Speed Post more secure, reliable, and user-friendly.

PFRDA CRA charges revised

The Pension Fund Regulatory and Development Authority (PFRDA) has revised charges for services provided to subscribers by Central Recordkeeping Agencies (CRAs).

These agencies manage pension schemes such as the National Pension System (NPS), NPS Lite, NPS Vatsalya, Unified Pension Scheme (UPS), and Atal Pension Yojana (APY).

The revised charges, effective October 1, will apply to the maintenance of subscriber accounts under these schemes in both online and offline modes

The revised charges that will come into effect on October 1, 2025, will be applicable for maintaining subscriber accounts of these schemes in online and offline modes.

Deadline for switching UPS-NPS

From October 1, Central Government employees enrolled in the National Pension System (NPS) will no longer be able to shift to the Unified Pension Scheme (UPS). The deadline to opt for UPS is September 30.

Similarly, employees already under UPS have until September 30, to switch back to NPS, provided the move is made at least one year before retirement or three months before seeking Voluntary Retirement (VRS).

Also Read: New NACH rules: What changes for your salary, pension, and EMI

NPS equity investment option

Non-government NPS subscribers will be allowed to invest up to 100 per cent of their funds in equities within a single NPS plan from October 1.

Additionally, they will be able to hold multiple schemes under one PRAN across different CRAs (such as CAMS, Protean, and KFintech) under the newly introduced numerous Scheme Framework for non-government sector subscribers.