5 money changes in Oct: Bulk FD rates, UPI MDR, SBI ATM limit cut, LPG KYC & more
The money changes include a reduction in the number of free ATM transactions for certain State Bank of India (SBI) salary account customers, new disclosure norms for interest rates on bulk fixed deposits (FDs), revised charges under the National Pension System (NPS) and mandatory Aadhaar authentication for receiving LPG subsidies.
In October 2026, several financial rules and regulations will change for Indian consumers. The State Bank of India (SBI) will limit its salary account customers to five free ATM transactions per month at other banks' ATMs, effective October 1. Banks will have to disclose bulk deposit interest rates in advance and disclose them daily at 10 am.
Merchants receiving payments above Rs 2,000 via UPI will face the Merchant Discount Rate (MDR) starting October 15. National Pension System (NPS) subscribers will face a one-time onboarding fee of Rs 200 for opening a Permanent Retirement Account Number (PRAN). Domestic LPG consumers must complete Biometric Aadhaar Authentication before October 1 to continue receiving subsidised refill prices.
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