From IRCTC Aadhaar ticketing to Speed Post hike, PFRDA reforms and RBI rules: key changes from October 1

Railway ticket booking, Speed Post deliveries, pension investments, bank charges and small business lending all see rule changes from today. The measures, which come into effect on October 1, are expected to impact millions of consumers and businesses across the country.

Aadhaar now mandatory for first 15 minutes of IRCTC bookings

The Indian Railway Catering and Tourism Corporation (IRCTC) has made Aadhaar authentication compulsory for booking general reserved tickets online during the first 15 minutes after reservation opens. The new rule, effective October 1, applies to both the IRCTC website and mobile app.

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According to a Railway Ministry circular dated September 15, the measure is intended to stop fraudulent agents from cornering tickets and to ensure that genuine passengers get fair access. After the first 15 minutes, regular registered users can book tickets as before, irrespective of Aadhaar linkage.

Speed Post tariffs revised

India Post has revised Speed Post tariffs for the first time in more than a decade, while also introducing new features from October. Customers will now pay slightly higher base rates for parcels, with additional charges of Rs 5 plus GST for value-added services such as OTP-based delivery and registration.

The reform also reclassifies Speed Post as the core accountable mail service, bringing registered post under its umbrella. To balance the increase in charges, India Post has announced discounts of 10 per cent for students and 5 per cent for new bulk customers. Postal officials said the changes were needed to improve tracking, strengthen delivery security and meet rising operational costs.

Pension Fund regulator revises fees

The Pension Fund Regulatory and Development Authority (PFRDA) has revised its fee structure for Central Recordkeeping Agencies overseeing the National Pension System (NPS) and related schemes. From this month, non-government subscribers can invest up to 100 per cent of their contributions in equities.
The regulator said the move, part of a new Multiple Scheme Framework, is aimed at giving investors greater choice between low, moderate and high-risk strategies.

Banks revise premium services and charges

HDFC Bank has introduced revised eligibility norms for its Imperia premium banking clients. Punjab National Bank has raised locker rents and service request charges from this month.

Meanwhile, the Reserve Bank of India (RBI) has eased lending rules for small businesses. Banks may now reduce non-credit-risk components of spreads earlier than the previous three-year limit, offering borrowers quicker relief. Borrowers can also switch to fixed-rate loans at the time of reset, giving them protection from interest rate swings.

The RBI has further allowed scheduled commercial banks to extend working capital loans to jewellers. In addition, Tier 3 and Tier 4 urban co-operative banks can now lend to businesses that use gold as an input in manufacturing and processing. These changes affect millions of everyday users of government and financial services.