Tag: bank alert

September 1 big Update: Why You Might Not Receive Bank OTP Messages

Why You May Stop Receiving Bank OTP Messages and More from September 1

The issue of spam messages and calls continues to be a prevalent concern for many individuals in India. In an effort to address this problem, the Telecom Regulatory Authority of India (TRAI) has introduced a new directive requiring telecom operators to regulate the transmission of messages containing URLs, OTT links, and other similar content. While the primary goal is to reduce the influx of spam messages, this directive may also impact the delivery of regular and important messages.

Commencing on September 1, users may experience disruptions in receiving messages from banks, financial institutions, and e-commerce platforms. This directive mandates that telecom operators cease the transmission of messages containing specific elements, such as URLs, OTT links, APKs, or call-back numbers, from operators that have not been registered with TRAI.

As a consequence, messages from unregistered banks and institutions, if containing the restricted elements, will not reach the intended recipients and will be blocked. Until August 31, these entities have the opportunity to register their message templates with the telecom operators to avoid any disruptions in communication.

Traditionally, companies have registered their headers with telecom operators, but this process does not encompass the content of the messages being transmitted. However, with the new directive in place, telecom operators will be required to scrutinize the message content to identify and block spam messages. This may involve the implementation of a new system to match and authenticate message content.

It is worth noting that leading telecom operators such as Jio, Airtel, and Vi have expressed discontent with this directive, advocating for an extension of the deadline. Whether the deadline will be extended remains to be seen. Should users encounter difficulties in receiving OTPs or other important messages from September 1 onwards, they can attribute it to these regulatory changes.

Advisory for Furnishing Bank Account Details Under CGST Rules

Advisory for furnishing bank account details by registered taxpayers under Rule 10A of the Central Goods and Services Tax Rules, 2017.

Mandatory Bank Account Details Submission as per law: All Registered Taxpayers are required under the provisions of CGST Act, 2017 and the corresponding Rules framed thereunder to furnish details of their bank account/s within 30 days of the grant of registration or before the due date of filing GSTR-1/IFF, whichever is earlier.

Taxpayers are therefore advised to promptly furnish their bank account details, who have not provided it so far if 30 Days period is shortly going to expire to avoid disruption in business activities and the subsequent suspension of GSTIN.

A new functionality is being developed with the following features and will be deployed in near future:-

1.Failure to furnish the bank account in the stipulated time: It would result into following:

a) Taxpayer Registration would get suspended after 30 days and intimation in FORM REG-31 will be issued to the Taxpayer.

b) Get the Taxpayer debarred from filing any further GSTR-1/IFF.

2.Revocation of Suspension: If the taxpayer updates their bank account details in response to the intimation in FORM REG-31, the suspension will be automatically revoked.

3.Cancellation of Registration: If the bank account details are not updated even after 30 days of issuance of FORM REG-31, the registration after suspension may also be taken up for cancellation process by the Officer.

Taxpayers are requested to take immediate action to provide the necessary information and avoid any adverse consequences.

Bank Cheque Rules: Bank has issued 7 rules regarding filling cheque; check the rules immediately

Bank Cheque Rules: If you also use checks for money transactions, then this news is for you. In fact, today we are going to tell you in our news that if you make these seven mistakes while filling the cheque, then you may have to suffer huge losses.

Most banks provide a Cheque book along with opening the account, which is used for transactions. If you have to pay a large amount of money or give a check for any official work, it is necessary to have a check book. It contains information like your name, account number etc. which is required to be signed while giving it to someone.

Even a Cheque without your signature does not pass through the bank. Apart from this, do you know that making some mistakes can also cause your Cheque to bounce. Not only this, you can also become a victim of a fraudster. Therefore, today we have brought some such mistakes for you, if you commit them, you can get into big trouble.

1. Do not make the mistake of signing wrongly.

Often you sign a Cheque in a hurry, but in such a situation you may have a wrong signature. Therefore, when you are signing a cheque, try to leave all your work aside and sign it carefully. If your signature is wrong, your Cheque may bounce.

2. Do not sign blank cheques.

Many people sign and leave a blank Cheque so that when they have to give the Cheque to someone, all they have to do is write the amount and name. However, this mistake of yours can also cause loss to you. Keep in mind that sign the Cheque only after writing the name of the Cheque giver, date and amount.

3. Use permanent ink-

Use only permanent ink pen to fill in the details like signature, name, amount etc. in the cheque. In such a situation, no changes of any kind can be made by truncation and you will also be saved from being fraud.

4. Do not give signed Cheque to anyone-

You should keep in mind that never give a blank Cheque to anyone. No matter how much you trust someone, never give them a blank Cheque signed by you. In such a situation, anyone can withdraw money from your account by filling the amount in your cheque.

5. Don’t forget to write Only in the cheque.

Along with writing the amount on the cheque, it must be written only. Its purpose is to protect from fraud. If you do not write only then a fraudster can add more amount in it.

6. Give only canceled cheques-

If you are asked to give a cheque for account details as a document, then you do not have to give a blank or signed cheque. In such a situation, you should give the cheque by writing Cancel on it.

7. Do not give cheque without phone number.

When you give a signed cheque to someone, along with name, amount and other details, write your signature and the phone number linked to the bank on the back of the cheque. Avoid making all these mistakes.

Bank Alert! Cheque book of these banks will be useless from next month! Apply immediately for new

Punjab National Bank (PNB) has alerted the account holders of Oriental Bank of Commerce (OBC) and United Bank of India (UBI). PNB has said that if the account holders of these two banks have old cheque books, then they will not be of any use from next month. So apply for a new check book immediately.

Oriental Bank of Commerce and United Bank of India were merged with Punjab National Bank on 1 April 2020.

Old check book of eOBC and eUNI is going to be closed from 1-10-2021. Please replace your old eOBC and eUNI check book with PNB’s updated IFSC and MICR check book.

You can apply for check book through the following:-

  • You can place a check book request by visiting the Punjab National Bank ATM.
  • You can apply for checkbook if you use internet banking
  • You can also request for checkbook through PNB One app

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