From Oct 1, these 5 changes that will impact your personal finance

​External benchmarking of retail loansGetty Images
​External benchmarking of retail loans
As directed by the RBI, all floating rate loans, i.e., personal, housing, auto etc. disbursed by banks have to be linked to an external benchmark, from October 1. The external benchmark can be RBI's repo rate, 3 or 6 month treasury bill yield or any other market interest rate benchmark published by the Financial Benchmarks India (FBIL). As per the RBI directive, banks have to reset these new interest rates at least once in three months. Therefore, any change in the external benchmark rate will impact your EMIs every three months or less.
DIN or unique number for income tax noticesGetty Images
DIN or unique number for income tax notices
From now, all income tax notices, letters or any other official tax related correspondence will carry a unique number called 'Document Identification Number' or DIN. This number will be computer generated and will be verifiable on the I-T department's e-filing website. The tax department has already launched the facility to verify the DIN on its e-filing website. Any communication with the tax department on or after October 1 which does not carry the DIN can be treated as invalid.
​No discount on credit card payments for fuelThinkStock Photos
​No discount on credit card payments for fuel
According to a PTI report, the 0.75 per cent discount being given on credit card payments made to buy fuel at petrol pumps will be withdrawn from October 1. Such discounts were introduced by oil companies more than two and half years ago post demonetisation. However, discounts on payments made via debit cards and other digital modes of payment will continue.
​Good news for government pensionersThinkStock Photos
​Good news for government pensioners
The government has amended the Central Civil Services (Pension) rules via a notification, according to which, families of government pensioners who died before completion of service of seven years within 10 years before October 1, 2019 will also be eligible for family pension at enhanced rates, with effect from October 1.
​Curb on online ticketing portals selling travel insuranceThinkStock Photos
​Curb on online ticketing portals selling travel insurance
IRDAI in a circular has imposed curbs on selling of travel insurance as a pre-selected default option at the time of buying of tickets on online portals. The circular has stated that all group insurance arrangements that are not in compliance with the norms shall be terminated with effect from October 1, 2019.
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