The beginning of October brings several financial and banking-related rule changes that may affect customers and investors. From October 1, 2026, changes related to large fixed deposits, LPG subsidy authentication and SBI ATM withdrawals are taking effect, while new rules for certain UPI transactions will apply from October 15.
Understanding these changes can help customers plan their transactions and avoid confusion over applicable charges and requirements.
New Rules for Large Fixed Deposits
Banks will now have to publish the interest rates applicable to bulk deposits of ₹3 crore or more on their websites every day by 10 AM.
Another change requires banks to maintain the same interest rate across their branches for fixed deposits with identical amounts and tenures opened on the same date. Banks can still decide different rates based on their requirements, but customers making identical bulk deposits on the same day should receive the same applicable rate across branches.
The measure is aimed at improving transparency around bulk deposit rates and reducing differences in rates offered at different branches.
LPG Subsidy Authentication Becomes Mandatory
Changes to LPG subsidy rules have also taken effect from October 1, 2026. Biometric Aadhaar Authentication (BAA) is now mandatory for customers seeking to receive the subsidy benefit.
LPG customers who have not completed the required biometric Aadhaar authentication will need to complete the process to avail themselves of the subsidy.
However, failure to complete the authentication will not stop the supply of LPG cylinders. Customers will continue to receive their gas cylinders even if the authentication process remains incomplete.
UPI MDR Rules From October 15
The National Payments Corporation of India (NPCI) will introduce Merchant Discount Rate (MDR) on certain UPI transactions above ₹2,000 from October 15.
The charge will apply to Person-to-Merchant (P2M) transactions. Importantly, the MDR will not be collected directly from customers. NPCI has clarified that the charge is not a fee that customers themselves will have to pay for such UPI transactions.
The new provision will therefore apply from October 15 rather than October 1.
SBI ATM Withdrawal Charges
Changes have also been made to the free cash withdrawal limits applicable at other banks’ ATMs for certain State Bank of India (SBI) account holders.
For Basic Savings Bank Deposit (BSBD) accounts, customers will have to pay a charge of ₹15 plus GST after using the permitted four free cash withdrawals.
Disclaimer: The information in this article is based on the rule changes and details provided for October 2026 and is intended for general informational purposes only. Applicable charges, terms and eligibility conditions may vary according to the relevant bank, service provider or official notification. Customers should verify the latest applicable rules before making financial transactions.