Major Changes From 1st October 2026: Bank, LPG, UPI, Withdrawals, Birth and Death Registration

Several important changes affecting bank customers, small-savings investors, LPG consumers, digital payments and tax compliance will take effect directly from 1st October 2026.

Banks to Publish Bulk Fixed Deposit Rates Online

With effect from 1st October 2026, as per RBI's new rule, the banks will have to disclose bulk-deposit interest rates on their websites every working day at around 10 a.m. to 10:10 a.m.

Here, bulk fixed deposits means the deposits of ₹3 crore or more, some banks may classify deposits of ₹1 crore or ₹2 crore as bulk deposits.

Banks may still vary bulk-deposit rates in certain situations

• To match Liquidity Coverage Ratio (LCR).
• To maintain high-quality liquid assets.

UPI MDR Rules for Merchant Payments

A new UPI Merchant Discount Rate (MDR) framework is also coming from 15th October 2026.

• Standard MDR Above ₹2,000 = 0.40%
• Maximum MDR is ₹75,000 or more = ₹300

Charge is applicable on Person to Merchant (P2M), not Person to Person (P2P).

LPG Subsidy Rule Changes

From 1st October 2026, eligible domestic LPG consumers are required to complete Biometric Aadhaar Authentication to book LPG refills at the regulated retail selling price (RSP) and to receive the government subsidy.

If a consumer does not completed biometric authentication process, he or she will still be able to receive LPG but may be required to pay the unsubsidized market price until the authentication is completed.

SBI New ATM Transaction Limits

For SBI Basic Savings Bank Deposit (BSBD) account holders

• Four free cash withdrawals per month.
• The four withdrawals collectively cover transactions through Branches, ATMs, Micro-ATMs, AEPS and POS terminals etc
• After the free limit, charge of ₹15 + 18% GST = ₹17.70
• Digital transactions through UPI, IMPS, NEFT and RTGS etc are not counted under this particular cash-withdrawal limit.

Explore more in details - SBI Savings Account Major Update in ATM Withdrawals From October 2026

For SBI Salary Account Holder

• Allowed only 5 free transactions (including financial and non-financial) per month at other banks' ATMs. Earlier, this limit was 10 transactions.
• After five free monthly transaction, charge of ₹23 + 18% GST = ₹27.14

New Rules for Late Birth and Death Registration

From 1st October 2026, you may require additional approval if you apply late birth and death registration certificate.

If applied - more than 1 year but within 2 years

Registration possible only after an order from an authorised executive magistrate-level authority, such as a:

• District Magistrate
• Sub-Divisional Magistrate
• Executive Magistrate

If applied - more than 2 years

• Registration would require an order from a Judicial Magistrate First Class.

Income Tax Audit and ITR Deadlines Extended for AY 2026-27

New tax audit deadline

• Earlier: 30th September 2026
• New: 21st October2026

New ITR filing deadline for audit cases

• Earlier: 31st October 2026
• New: 21st November 2026

Also Read in Details - CBDT Extends Tax Audit Due Date for AY 2026-27

Buying Immovable Property From an NRI

Indian residents and HUFs purchasing immovable property from a Non-Resident Indian (NRI), can use their PAN instead of obtaining a separate TAN for TDS compliance.

Explore more in details - TDS on Purchase of Property: New Reporting Rules From 1st October 2026