October 1 Rule Changes: From LPG And SBI ATMs To UPI And NPS, Know- What Changes For Your Money From Thursday?
Mumbai: A fresh set of financial and household rules will kick in from October 1, bringing changes across UPI payments, LPG refills, ATM transactions, pensions and tax compliance. Here is a simple breakdown of what changes and how consumers could be affected. UPI Rules: What Changes? A new merchant discount rate (MDR) framework will apply to specified merchant UPI transactions above Rs 2,000.…
From October 1, several financial and household rules are set to take effect, impacting UPI payments, LPG refills, ATM transactions, pensions, and tax compliance. A new merchant discount rate (MDR) framework will apply to specific UPI transactions exceeding Rs 2,000, but customers will not be charged for person-to-person UPI transfers.
Domestic LPG consumers will need to complete Aadhaar authentication to purchase cylinders at the regulated retail price with subsidy. SBI will lower free monthly transactions at other banks' ATMs from 10 to five, affecting salary package account holders. Basic Savings Bank Deposit account holders will still receive four free cash withdrawals per month, with excess transactions incurring a Rs 15 plus GST fee.
The tax audit report deadline for Assessment Year 2026-27 has been extended to October 21, and the income tax return filing deadline has moved to November 21. Property buyers who are residents or HUFs purchasing from NRIs can now use PAN for TDS compliance without a separate TAN. NPS Point of Presence fee structure starts October 1, including a one-time Rs 200 onboarding fee.
Regional rural banks must publish bulk deposit rates on their websites by 10 am on business days. The RBI Monetary Policy Committee will meet from October 5-7, with the decision expected on October 7. The current repo rate stands at 5.25 percent.
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