Rule Changes From October 1, 2026: The month of October 2026 will mark a new phase of regulations on day-to-day bank activities, digital payments, retirement fund contributions and household expenses while some of these guidelines will apply to individual consumers, some will be applicable primarily to banks and merchants.
The new set of regulations includes new restrictions on SBI ATMs for some salary account holders, new information guidelines for bulk fixed deposits, new NPS fee structure and Aadhaar based identification system for subsidized LPG cylinder refills. UPI Merchant Discount Rate (MDR) regulations will be implemented from October 15.
1. SBI ATM Free Transactions Cut to Five
There will be a reduction in the number of free transactions that can be made using the SBI Salary package account at the ATMs of other banks starting October 1. There will be a reduction in the number of free transactions from ten to five per month and this is relevant for those people who make use of the ATM of another bank for making withdrawals or any other transaction. In the case of BSBD accounts, there will be four free withdrawals per month. After this, there will be a charge of ₹15 plus GST per transaction.
For Basic Savings Bank Deposit (BSBD) accounts, four cash withdrawals in a month will continue to be free, after which, every transaction will attract a charge of Rs 15 + GST. Customers are requested to take note that all digital transactions will continue to be free without any restriction.
After the free limit is exhausted, the applicable charges will be levied. Cash withdrawals will attract Rs 23 plus GST per transaction, while non-financial transactions will cost Rs 11 plus GST.
2. Bulk FD Rates Get Greater Disclosure
The new policy framework on bulk deposit rates will encourage transparency in pricing among the banks. Starting from October 1, all banks will be required to publish the interest rates applicable on their bulk deposits before the date of fixing them and publish them every business day at 10 a.m. Similarly, bulk deposits would be required to pay the same rate of interest, except for permitted differentiation according to liquidity treatment. This change may help the customers with bulk deposits compare the rates.
For scheduled commercial banks, a bulk deposit generally refers to a single rupee term deposit of Rs 3 crore or more. The new framework does not mean that ordinary retail FD rates will automatically rise or fall from 1 October. Instead, it changes how banks disclose and apply rates for large deposits.
3. UPI MDR Begins for Select Payments Above ₹2,000
One of the important changes to be implemented in October 15th is that a 0.4 percent MDR shall be levied on UPI transactions between person to merchant above Rs 2000. The person to person transaction and the ones that qualify for exemption shall be exempted from paying the MDR. It has been stated that nearly 96% of UPI users shall not be affected. The Supreme Court has declined to grant an interim stay on the framework while seeking responses from the Centre, RBI and NPCI.
4. LPG Subsidy Aadhaar Authentication
Aadhar biometric authentication will become mandatory for domestic LPG users who are looking for subsidised refills starting October 1 in order to avail of the selling price and the subsidy. This will be especially useful for those families who haven’t got themselves authenticated till date and this would save them from any trouble at the time of booking their next refill.
According to the Ministry of Petroleum and Natural Gas, 27.43 crore active domestic LPG consumers, or 89.9% of the total, had completed BAA as of 19 September. Consumers who have already completed the authentication do not need to repeat the process.
5. RBI Repo Rate Decision on October 7
According to sources, the meeting for the Monetary Policy Committee of the Reserve Bank of India will be held between October 5 and 7, 2026, and the decision regarding monetary policy will be made on October 7, 2026. The repo rate stood at 5.25% after the Monetary Policy Review of August 2026.
6. New TDS Rules for Property Bought From an NRI
Starting from October 1, individuals and HUFs buying property from an NRI will not have to acquire a TAN separately for the purpose of deducting TDS on such purchase. They can do so using their PAN as per the new procedure however, the basic requirement of deducting TDS remains and they will also have to furnish some details about the non-resident seller.
7. ITR Deadline by October 31
October 31, 2026, is a significant filing date for those taxpayers whose records are subject to tax audit in accordance with the relevant rules and regulations. This is not a general date for all those taxpayers who earn from their businesses or professions.
How To Complete LPG Aadhaar Biometric Authentication?
Consumers who have not completed BAA can use different options provided by their oil marketing company.
They can:
- Complete authentication during LPG delivery where the facility is available.
- Visit their LPG distributor’s showroom.
- Use the official OMC mobile application.
- Follow authentication instructions provided through the OMC’s digital channels.
The major LPG companies provide their own consumer platforms, including IndianOil ONE for Indane, HelloBPCL for Bharatgas and HP PAY for HP Gas.
Why is Government Introducing New LPG Rule?
According to the Ministry of Petroleum and Natural Gas, biometric authentication is aimed at improving the targeting of LPG subsidies.
The government has cited objectives including:
- Ensuring subsidies reach eligible households
- Identifying duplicate LPG connections
- Identifying ineligible beneficiaries
- Preventing diversion of subsidised domestic LPG
- Improving transparency in subsidy distribution
What These Changes Mean for Consumers
These October changes point toward a larger trend towards stricter verification requirements, better financial disclosures and pricing differentiation. Their direct effects will depend on who you are; for instance, for SBI customers who use other bank’s ATMs regularly, keeping track of their number of transactions will be a requirement, while those who have LPG subsidies need to get their Aadhaar verification done. For UPI users, the new MDR is meant for merchant transactions, not person-to-person transactions.
For consumers, check the rules attached to the specific account, payment or government benefit being used rather than assuming that one change applies to everyone.
ALSO READ: LPG Cylinder Booking New Rules October 2026: Check 25-Day Refill Gap, Aadhaar Authentication, Subsidy, Delivery Rules, LPG Prices, KYC Status & More Changes From October 1 — Check Key Deadlines
Disclaimer: Rules, charges and prices may change based on official notifications. Check government, bank and service-provider notices for the latest details.
