With the start of October, many rules related to banking, LPG, UPI, NPS, Income Tax and Railways are changing. Some of these changes have come into effect from October 1 i.e. today, while UPI’s new MDR rule will come into force from October 15. In such a situation, if you have a bank account, LPG connection, invest in NPS or travel by train, it is important to be aware of these changes, as they have a direct connection to your pocket.
Cash withdrawals from SBI ATMs have become expensive
For State Bank of India salary package account holders, the limit of free transactions at ATMs of other banks has been reduced from 10 to 5 from October 1. This includes financial and non-financial transactions. After the limit of 5 free transactions is reached, cash withdrawals from ATMs of other banks will be charged Rs 23 + GST and non-cash transactions will be charged Rs 11 + GST.
At the same time, first 4 cash withdrawals per month in Basic Savings Bank Deposit i.e. BSBD account will be free. After this, every cash withdrawal will incur a charge of Rs 15 + GST. This rule applies to cash withdrawals, while digital transactions are not covered by this charge.
Aadhaar authentication is required for LPG subsidy
Important changes have also come into effect for domestic LPG consumers from October 1. To avail subsidized domestic LPG refill at fixed retail price, it will be necessary to complete biometric Aadhaar authentication. According to the government, customers who have already been authenticated do not need to go through the process again.
Authentication can be done at the time of delivery, at the gas distributor’s showroom or through the respective oil marketing company’s mobile app. The government has clarified that its objective is to pass on the subsidy to eligible consumers.
MDR on UPI payment
The biggest change related to UPI will also be implemented this month. This rule will be implemented not from October 1, but from October 15, 2026. Under the new structure of NPCI, selected person-to-traders i.e. Rs. 0.4 percent MDR will be applicable on P2M transactions above 2,000. This charge will be levied within the merchant payment ecosystem, the MDR will not be charged separately from the customer.
Person-to-person UPI payments from one person to another will remain free as before. Merchant payments up to Rs 2,000 will also not be covered by this MDR. In some important categories Rs. 2,000 on payment above Rs. A flat MDR of 5 will be applicable.
New fees have been implemented in NPS
In NPS too, there has been a change in the charge structure of Point of Presence i.e. PoP from October 1. Under the new structure, opening an NPS account through PoP will cost Rs. A one-time onboarding charge of 200 has been fixed. Instead of deducting all these amounts at once, each of them Rs. 50 in quarterly installments can be recovered through unit cancellation.
In case of fully digital and non-face-to-face onboarding, a reduced charge of Rs 100 may be applicable. Apart from this, a 0.20 percent annual AUM charge will also be applicable on non-dormant accounts. GST and other applicable taxes may apply separately.
TAN is not required if buying property from NRI
From October 1, TDS has become easier for resident individuals and HUFs on purchase of property from NRI i.e. non-resident seller. Now there is no need to take TAN separately for this work. The buyer will be able to use the new Form 141 through his PAN. However, the basic liability of TDS has not ended, only the method of collecting and reporting it has changed.
Income tax deadline has also been extended
The last date for submission of tax audit report for AY 2026-27 has been extended from 30 September to 21 October 2026. At the same time, the last date for filing ITR for concerned taxpayers has been extended from 31 October to 21 November 2026. The CBDT has made this change through a circular issued on September 2.
This way you will get information about interest rates on large FDs
Under the new RBI rules from October 1, banks will have to disclose interest rates on large i.e. bulk deposits in a more transparent manner. The concerned banks shall publish these rates on the website by 10 AM on every working day, with a period of 10 minutes i.e. up to 10:10 AM maximum. There will also be limited scope for different rates between branches on such deposits of the same amount and on the same date.
Carry the original ID along with the ticket in the train
Railways has started a special ticket checking campaign in the Central Railway network from 1st to 31st October. During this time, tickets and necessary documents of passengers traveling through concession tickets, fixed reservation quota, railway pass, e-pass and PTO will be checked. Passengers are advised to carry the prescribed original ID and eligibility documents along with the ticket. In case of group tickets, at least one passenger must have the relevant original ID.
Vehicles without PUCC will not get petrol and diesel.
Looking at the winter pollution in Delhi-NCR, the government has taken another decision. From today i.e. October 1, vehicles without a valid Pollution Under Control Certificate (PUCC) will not get petrol, diesel and CNG. For this, CAQM has prepared to monitor fuel and CNG stations through Automatic Number Plate Recognition (ANPR) system.
This system will be implemented in mission mode at around 500 petrol pumps in Delhi. Along with this, action against old and end-of-life vehicles, monitoring of traffic and pollution hotspots and automated currency system will also be strengthened.
