- UPI payments above ₹2,000 attract 0.4% charge from October 15.
- SBI ATM free limits decrease; banks disclose bulk FD rates.
- LPG subsidy requires Aadhaar authentication; NPS registration fee imposed.
October brings a series of changes that could affect how consumers use bank accounts, make digital payments, access fixed deposits and claim LPG subsidies.
While some of the changes take effect from October 1, others will kick in later in the month. The measures cover banking charges, UPI transactions, National Pension System (NPS) registrations, Aadhaar authentication and household appliance prices.
Here are the key financial and consumer-related changes to watch in October.
UPI Charges From October 15: 0.4% MDR On Select Transactions
One of the key changes for digital payment users will come into effect midway through the month.
A 0.4% Merchant Discount Rate (MDR) will apply from October 15 to certain person-to-merchant (P2M) UPI transactions above Rs 2,000. Person-to-person UPI payments up to Rs 2,000 will not attract the charge.
Merchants with monthly UPI transactions below Rs 1 lakh will also remain outside the MDR framework.
The Supreme Court on September 28 declined to grant an interim stay on the implementation of the 0.4% MDR on the specified transactions.
Also Read : Apple Pay Launches In India Ahead Of UPI MDR Rollout: What Users Need To Know
SBI ATM Charges: Free Transaction Limit Reduced From October 1
Customers using SBI debit cards could see a change in their free ATM transaction allowance from October 1.
For salary package account holders using their debit cards at other banks’ ATMs and Automated Deposit-cum-Withdrawal Machines (ADWMs), the monthly free transaction limit will fall from 10 to five.
The revised limit covers both financial and non-financial transactions.
Basic Savings Bank Deposit account holders will continue to get four free withdrawals each month. Transactions beyond that limit will attract a charge of Rs 15 plus GST per transaction.
Bulk FD Rates From October 1: What Banks Must Disclose
For customers comparing rates on large fixed deposits, a new disclosure requirement will take effect from October 1.
Under revised RBI directions, banks will have to disclose the interest rates applicable to bulk fixed deposits by 10 am on each business day.
Banks can offer different rates based on their Liquidity Coverage Ratio (LCR), but the revised framework requires transparent and uniform interest-rate practices for comparable deposits.
For deposits of similar amounts accepted on the same date, the interest rate should be uniform across branches and customers, subject to permitted exceptions.
LPG Subsidy October 2026: Aadhaar Authentication Rules Explained
Consumers receiving subsidised domestic LPG will also face a change from October 1, with biometric Aadhaar authentication required for subsidised refills.
The Ministry of Petroleum and Natural Gas has said the move is aimed at ensuring that subsidised LPG reaches eligible households and identifying duplicate or ineligible connections.
As of September 19, 27.43 crore active domestic LPG consumers, or 89.9% of the total, had completed the authentication process.
Consumers who have already completed the process do not need to do it again. Those who are yet to complete it can authenticate their Aadhaar during cylinder delivery, at their LPG distributor’s showroom or through the relevant oil marketing company’s mobile application.
Consumers will not be completely denied LPG if they do not complete authentication. However, they will not receive the applicable subsidy and will have to purchase cylinders at the market price, subject to the conditions specified by the government and oil marketing companies.
NPS Registration Charges: New Rs 200 Fee From October 1
The cost of registering for the National Pension System (NPS) and NPS Lite through a Point of Presence (POP) will also change from October 1.
Customers registering through a POP will have to pay a one-time charge of Rs 200 for each Permanent Retirement Account Number (PRAN), according to The Economic Times.
Birth And Death Registration Rules: New Verification Norms From October
The process for registering births and deaths after a significant delay will also change.
Registrations made after one year but within two years will require verification before they can proceed.
Where more than two years have passed, registration will require an order from a Judicial Magistrate First Class.
Appliance Prices October 2026: ACs, TVs And Washing Machines To Get Costlier
Consumers planning purchases during the festive season may also encounter revised prices for products such as air conditioners, televisions and washing machines.
Several manufacturers are preparing or implementing price increases, with the extent varying by company and product.
Blue Star Managing Director B Thiagarajan said the company would increase prices of air conditioners and deep freezers by 5-8%, citing higher costs of copper, steel, plastics and other inputs.
Godrej Enterprises Group is considering a 5-7% increase, according to Kamal Nandi. Haier India President NS Satish said AC prices would rise by 5% from October 1, while LED television and washing machine prices are expected to increase by 2-3%.
Daikin India had already raised prices by 8-10% from September 16. The company cited higher copper costs, a stronger dollar and rising commodity prices.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: abplive.com
