New Delhi, September 30, 2026 (Yes Punjab News)
Several changes affecting banking, taxation, savings and household expenses are set to take effect from October 1, including revised State Bank of India (SBI) ATM transaction limits, biometric Aadhaar authentication for LPG refills, and changes to National Pension System (NPS) and UPI rules.
One of the key changes is a new Unified Payments Interface (UPI) Merchant Discount Rate (MDR) framework that will apply to specified merchant transactions above Rs 2,000. However, customers will not be charged MDR, and person-to-person UPI transactions will continue to remain free.
The Central Board of Direct Taxes (CBDT) has also extended important tax compliance deadlines for taxpayers covered by tax audit provisions for assessment year 2026-27. The deadline for filing tax audit reports has been extended from September 30 to October 21, while the income tax return filing deadline has been moved from October 31 to November 21.
Domestic LPG consumers will be required to complete biometric Aadhaar authentication from October 1 to book refills at the regulated retail selling price with applicable subsidies. Consumers who do not complete the authentication process can still obtain LPG at the applicable market price without subsidy, subject to the rules of oil marketing companies.
SBI, the country’s largest lender, will reduce the number of free monthly transactions available at other banks’ ATMs for salary package account holders from 10 to five. The revised limit will apply to both financial and non-financial transactions.
For Basic Savings Bank Deposit account holders, four cash withdrawals per month will continue to be free. Any additional withdrawal will attract a charge of Rs 15 plus GST.
Changes to tax compliance for property transactions will also come into effect on October 1. Resident individuals and Hindu Undivided Families (HUFs) purchasing property from non-resident sellers will no longer need to obtain a separate Tax Deduction and Collection Account Number (TAN) for applicable tax deducted at source (TDS) compliance and can use their Permanent Account Number (PAN).
The revised fee structure for NPS Points of Presence (PoPs) will also take effect, including a one-time onboarding charge of Rs 200 per Permanent Retirement Account Number (PRAN).
Meanwhile, new Reserve Bank of India (RBI) rules on bulk deposit rate disclosures will require regional rural banks to publish applicable interest rates on their websites by 10 am on business days.
Separately, the RBI’s Monetary Policy Committee (MPC) is scheduled to meet from October 5 to 7, with its policy decision due on October 7. In its previous review, the central bank kept the repo rate unchanged at 5.25 per cent.
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