New Rules From October 1 and 15: LPG, SBI ATM, NPS and UPI Changes Explained

Several changes affecting household expenses, banking, taxation, savings and digital payments are set to take effect in October, with some rules coming into force from October 1 and others from October 15.

Here is a breakdown of the key changes by their effective dates:

Changes effective from October 1

LPG Aadhaar authentication

From October 1, domestic LPG consumers will need to complete biometric Aadhaar authentication to book refills at the regulated retail selling price with applicable subsidy.

Consumers who have not completed the authentication can still obtain LPG, but will have to follow the applicable rules of oil marketing companies for subsidised refills.

SBI ATM transaction limits

State Bank of India will reduce the number of free monthly transactions available to salary package account holders using other banks' ATMs.

From October 1, the limit will be reduced from 10 to five transactions a month. The revised limit will cover both financial and non-financial transactions.

For Basic Savings Bank Deposit accounts, four cash withdrawals a month will continue to be free. Further cash withdrawals will attract a charge of Rs 15 plus GST.

Tax filing deadlines

The Central Board of Direct Taxes has extended certain deadlines for taxpayers covered by tax audit provisions for assessment year 2026-27.

The deadline for filing the tax audit report has been extended to October 21 from September 30, while the income tax return filing deadline has been extended to November 21 from October 31.

Property purchase from non-resident sellers

From October 1, resident individuals and Hindu Undivided Families purchasing property from non-resident sellers will not need a separate TAN for applicable TDS compliance and can use their PAN.

NPS fee structure

The revised Point of Presence fee structure under the National Pension System will also take effect from October 1.

The new structure includes a one-time onboarding charge of Rs 200 per Permanent Retirement Account Number.

Bulk deposit rate disclosures

New RBI disclosure requirements for bulk deposits will also take effect. Regional rural banks will be required to publish applicable bulk deposit rates on their websites by 10 am on business days.

RBI monetary policy meeting

The Reserve Bank of India's Monetary Policy Committee is scheduled to meet from October 5 to 7, with the policy decision due on October 7.

The RBI had kept the repo rate unchanged at 5.25 per cent at its previous review.

Changes effective from October 15

New UPI MDR framework

A new Merchant Discount Rate framework for specified UPI merchant transactions above Rs 2,000 will come into effect from October 15.

The MDR will apply within the payments ecosystem and will not be directly charged to customers. Person-to-person UPI transactions will continue to remain free.

The framework will therefore affect specified merchant transactions rather than ordinary transfers between individuals.

With the October changes spread across two different dates, consumers should take note of whether a particular rule applies from October 1 or October 15 and check the applicable requirements with their bank, LPG distributor or other service provider.