Ten rule changes from October 1: LPG, SBI ATM charges, FD rates and bank holidays
Several rules affecting banking, investment and household budgets change from October 1, 2026, from LPG delivery checks to SBI ATM withdrawals and FD rate disclosure.
September is drawing to a close, and several important rules will change across the country from October 1, 2026. Some of the changes relate to banking and investment, while others will directly affect household budgets. Changes are expected in areas ranging from LPG cylinder prices and subsidy to cash withdrawals at State Bank of India (SBI) ATMs, fixed deposit (FD) interest rates and the prices of electronic goods such as televisions and air conditioners.
On LPG, fuel companies review cylinder prices on the first of every month. New rates for domestic and commercial cylinders may be issued on October 1. Whether prices rise or fall, the effect will be felt directly in kitchen budgets.
Aadhaar-based biometric verification, or e-KYC, is being made mandatory for customers who get subsidised domestic LPG cylinders. Customers who have already completed the process will not need to repeat it. It is also learnt that from October 1, verification through a one-time password (OTP) sent to the registered mobile number may begin at the time of cylinder delivery. Customers may therefore have to share the OTP received on their phone when they take the cylinder.
The rules for withdrawing cash from ATMs are changing for some State Bank of India account holders. Four cash withdrawals a month will be free in a Basic Savings Bank Deposit (BSBD) account. After that, each additional transaction will cost Rs 15 plus applicable GST. Changes have also been indicated in the free transaction limit for salary account holders.
New rules on FDs will also come into force from October 1. Banks will have to keep the interest rates applicable to deposits updated on their websites. Provision has also been made for information on rates applicable to bulk deposits to be made available within a stipulated time. The bulk deposit threshold applies to deposits of Rs 3 crore or more. The main aim of the new rules is to give banks more flexibility in setting interest rates on large deposits and to give customers clear information on rates.
The tax deducted at source (TDS) procedure is changing for resident individuals and Hindu Undivided Families (HUF) who buy immovable property from a non-resident Indian (NRI). Under the new rule, the TDS process can be completed using a PAN, instead of obtaining a separate Tax Deduction Account Number (TAN).
Rules on delays in registering births and deaths are being tightened. Registration within 21 days will remain the normal procedure. If registration is delayed beyond 21 days, additional documents and a fee may be required.
Prices of televisions, refrigerators, air conditioners and other household electronic goods are expected to rise during the festival season. Companies may raise prices by 5 to 8 per cent as the cost of raw materials and freight goes up.
Finally, bank holidays. Counting weekly offs and festivals, bank branches may remain closed for a total of 16 days in October. Those who need to get urgent work done at a branch should check the bank holiday list for their city. Online banking and digital services will continue to work on holidays.
