From NPS to Speed Post: What's changing from October 1
What's the story
Starting October 1, 2025, a slew of major changes will be implemented across banks, regulatory bodies, and government services in India. The changes will affect pension scheme rules, cheque clearing systems, postal services, and railway ticketing systems. Leading banks such as the HDFC Bank, PNB, and Yes Bank have also announced a slew of changes starting October 1. Here's everything to know.
Cheque clearing
Transition to continuous cheque clearing
The Reserve Bank of India (RBI) will transition from batch to continuous cheque clearing with settlement upon realization. The change will be implemented in two phases—Phase 1 from October 4, 2025, to January 2, 2026, and Phase 2 starting January 3, 2026. This move is aimed at speeding up the process of cheque clearance and making it more efficient for customers.
Banking fees
HDFC Bank tightens rules for Imperia customers
HDFC Bank has notified its Imperia customers that new eligibility criteria will apply from October 1. Customers who joined on or before June 30, must now meet the revised Total Relationship Value requirements to continue enjoying premium banking benefits. Punjab National Bank account holders will see increased charges for lockers and certain service requests starting October 1. Similarly, YES Bank will implement updated charges for salary accounts, covering cash transactions, ATM withdrawals, debit card fees, and penalties for returned cheques.
Railway regulations
New rules for online general ticket booking
The Indian Railway Catering and Tourism Corporation (IRCTC) will introduce new rules for booking general tickets online from October 1. The updated guidelines are applicable to Aadhaar-authenticated users and aim to curb misuse of the reservation system. This is part of IRCTC's effort to curb misuse of the reservation system and ensure fair access to tickets.
Postal changes
India Post's Speed Post tariff revisions
India Post will increase Speed Post tariffs from October 1. The pricing will be more transparent with GST shown separately. The last tariff revision was made in October 2012. India Post has also introduced a host of new features including OTP-based secure delivery, online payment facility, SMS-based delivery notifications, real-time delivery updates, and a registration facility for users.
Pension updates
Changes in pension scheme rules
The Pension Fund Regulatory and Development Authority (PFRDA) will implement revised charges for Central Recordkeeping Agencies managing accounts under NPS, NPS Lite, NPS Vatsalya, Unified Pension Scheme (UPS), and Atal Pension Yojana (APY). These changes will apply to both online and offline services. Non-government subscribers of the National Pension Scheme (NPS) will also get more flexibility as they can invest up to 100% in equities from October 1.