Big changes from October 1: NPS rules, RBI cheque clearing, New railway rules, bank charges and more

NPS rules, RBI cheque clearing, New railway rules, bank charges and more

Come October 1, 2025, Indians will wake up to a series of important financial and regulatory changes that will impact their everyday lives. From revised banking charges and pension rules to new railway ticketing guidelines and higher Speed Post costs, the updates are wide-ranging. Here’s a closer look at what’s changing.

HDFC Bank tightens rules for Imperia customers

HDFC Bank has informed its Imperia programme customers that new eligibility norms will apply from October 1. Those who joined on or before June 30, 2025, must meet the revised Total Relationship Value (TRV) criteria to retain their premium banking privileges.

RBI brings continuous cheque clearing

In a major step towards faster settlements, the Reserve Bank of India (RBI) will switch from batch to continuous cheque clearing from October 4. According to several reports, the rollout will happen in two phases next year in January. Phase 1 until January 2, 2026, followed by Phase 2 starting January 3, 2026.

PNB hikes locker and service charges

Punjab National Bank customers will need to shell out more for lockers and some service requests starting October 1. The changes cover locker fees, standing instruction failures, and nomination charges.

Railways tighten online booking rules

IRCTC will implement new Aadhaar-based guidelines for booking general tickets online from October 1. The aim, the Railways said, is to curb misuse of the reservation system by touts and fraudulent agents.

YES Bank salary account holders face new fees

Starting October 1, YES Bank customers will face revised charges for salary accounts. Cash transactions, ATM withdrawals, debit card fees, and penalties for returning checks will all be included in the updated charges.

Speed Post becomes costlier, adds OTP delivery

India Post will also start revising Speed Post rates on October 1. A new OTP-based delivery system will also be implemented, guaranteeing that packages are only released following recipient verification.

PFRDA revises pension charges, expands equity options

The updated fees set forth by the Pension Fund Regulatory and Development Authority (PFRDA) for Central Recordkeeping Agencies in charge of NPS and associated programs will also take effect on October 1, 2025. Additionally, non-government subscribers will have more flexibility as they can invest up to 100% in stocks as of October 1.

NPS vs UPS: Deadline ends September 30

Government employees have until September 30, 2025 to switch between the Unified Pension Scheme (UPS) and the National Pension System (NPS). After that, no transitions will be allowed.