NEW DELHI — As September, 2026 ends today, several monetary regulations across India will be implemented from tomorrow 1st Oct. Consumers will need to adjust to various changes in pricing, banking, and regulations. These implementations will come as changes occur in the areas of gas supply, ATM transaction costs, and average prices of finished products.
Transparency of Rates for Large Deposits
The Reserve Bank of India has come up with a new guideline for bulk fixed deposits across all banks.
Daily Disclosure: The bulk fixed deposit rates offered by banks must be stated on the official website and in other media outlets by 10:00 AM.
- Price Uniformity: Banks must charge the same rates for deposits made on the same day in different branches, except in cases covered by the liquidity coverage ratio provisions and conditions requiring NRI accounts.
- Consequences for Retail Depositors: The general rule requires that the amount of the bulk deposit offered by banks. Retail depositors will not have their rates automatically adjusted by the bank.
Also Read: Congress Protests Outside CEC Gyanesh Kumar Agra Home, Wrote ‘Vote Chor’ on Walls
2. SBI Revisions to ATM Cash Withdrawal Charges
State Bank of India (SBI) has revised transaction limits and fee structures for select account holders:
- Salary Accounts: The monthly limit of free ATM transactions has been halved from 10 to 5. Once exhausted, cash withdrawals will attract a fee of ₹23 plus GST per transaction, while non-financial requests (such as balance inquiries) will cost ₹11 plus GST.
- Basic Savings Bank Deposit (BSBD) Accounts: Customers maintaining branch-opened BSBD accounts will continue to receive four free withdrawals per month, after which each ATM withdrawal will incur a fee of ₹15 plus GST.
3. LPG Delivery, eKYC Mandates, and Fuel Prices
State-run oil marketing companies (OMCs) will announce monthly revisions for commercial and domestic LPG cylinders alongside Aviation Turbine Fuel (ATF):
- OTP-Based Cylinder Delivery: A delivery authentication code (DAC) system is rolling out, requiring customers to share a one-time password (OTP) sent to their registered mobile number before delivery personnel hand over refills.
- Biometric eKYC Deadline: Customers who have not completed biometric authentication or eKYC verification for their gas connections risk delays or disruptions to their direct benefit transfer (DBT) subsidy payments.
- Aviation Fuel Adjustments: Periodic revisions to ATF rates across Delhi, Mumbai, Chennai, and Kolkata will directly influence airline operating overheads and domestic airfares.
Also Read: 4 Times UP MLA Chhotelal Verma Dies at 73; Left BJP then Joined Back & Won
4. Festive Price Hikes on Home Electronics
Consumers planning appliance purchases ahead of the festive season face price increases of up to 8% on items including televisions, refrigerators, and air conditioners. Industry manufacturers attribute the price increases to surging input costs for essential commodities—including copper, steel, aluminium, and crude oil derivatives—coupled with elevated logistics and freight rates.
