Daijiworld Media Network – New Delhi

New Delhi, Nov 2: Starting November 1, several crucial changes in India’s financial and banking systems have come into effect, directly impacting millions of citizens. New rules covering bank nominations, GST slabs, pension procedures and credit card charges are now in force, marking one of the most significant regulatory overhauls in recent years.

In the banking sector, customers can now nominate up to four individuals for their bank accounts, lockers or safe custody deposits. The rule, effective from November 1, is aimed at simplifying fund access for family members during emergencies and preventing ownership disputes. Banks have also streamlined the process of adding or changing nominees, making it quicker and more convenient.

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