Government Introduces New Rules For Banks, ATMs, Railways And Airlines

Mumbai: The Indian government is doing its utmost in containing the spread of Covid-19. New rules have been iterated for banks, ATMs, Railways and Airlines with effect from May 1st.

Though railway and airline facilities are yet detained due to the lockdown, the concordant rules will be applicable once they resume. The following are the rules that will change from May 1st.

New SBI interest rate for saving Accounts:

SBI customers will get less interest upon the deposits of Rs.100,000 from May 1. It will stand at 3.25% that is 2.75% below the repo rate.

SBI becomes first to apply savings deposit and short term loan with repo rate in accordance with the external benchmark rules.

PNB Account Holders note that the bank has dismissed their digital wallet from May 1st. Customers using PNB’s Kitty Wallet are advised to transfer their amounts through IMPS to another account.

“Users can close wallet account only if balance is zero. If the balance is not zero, the user has to either spend money or send it to other accounts using IMPS,” PNB has said.

“When the customer wants to change the registered mobile in the bank, he has to first spend the balance amount in the wallet and close the wallet. Otherwise, he will not be able to change his mobile number in the branch.”
Pensioners to get their full pension.

The Employees Provident Fund Organization (EPFO) to give full pension to the pensioners who opted for commutation at their retirement.

This will benefit 6,30,000 pensioners per month at the expense of the government’s Rs.1,500 crores amidst the economic crisis due to lockdown.

ATM Rules

ATMs are to be cleaning after every use with a disinfectant to cope with the spread of coronavirus. In case the rules are not followed, the ATMs will be sealed by the corporation. The effect has already seen in Chennai and Ghaziabad.

Boarding Station Rules

The Indian Railways have initiated a new rule. According to this, the passengers are allowed to change their boarding station only 4 hours before the reservation chart is displayed. Earlier, the passengers could change the boarding station 24 hours before the travel.

The customers will not be refunded upon ticket cancellations after changing their boarding station.

Airline Rules

Air India customers will not have to pay extra cancellation charges of their tickets within 24 hours of booking.

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