New rules from October 2026: SBI ATM transactions, UPI MDR, bulk FD rates, NPS and LPG subsidy changes

October 2026 will bring several changes that could impact bank customers, Unified Payment Interface (UPI) merchants, National Pension System (NPS) subscribers and domestic Liquified Petroleum Gas (LPG) consumers. State Bank of India (SBI) is revising the number of free transactions allowed at other banks' Automated Teller Machines (ATMs) for salary package account holders, while the Reserve Bank of India’s (RBI) new rules will change how banks disclose interest rates on bulk deposits. Here are the key banking and financial rule changes taking effect in October 2026.

SBI is revising the number of free monthly transactions available to salary package account holders who use their SBI debit cards at ATMs and Automated Deposit cum Withdrawal Machines (ADWMs) of other banks. The revised rules will come into effect on October 1, 2026.

Across all SBI salary package account variants, the number of free transactions at other banks' ATMs will be reduced from 10 to five per month at all centres. The limit will include both financial and non-financial transactions.

For Basic Savings Bank Deposit (BSBD) accounts, four cash withdrawals in a month will continue to be free, after which, every transaction will attract a charge of Rs 15 + GST. Customers are requested to take note that all digital transactions will continue to be free without any restriction.

The RBI is changing the way commercial banks determine and disclose interest rates on bulk fixed deposits. The new rules will come into effect on October 1, 2026.

Under the revised framework, banks will have to disclose their bulk deposit rates in advance. They will also be required to disclose the applicable bulk deposit rates every day at 10 am.

Banks will generally have to offer the same interest rate for similar bulk deposits. However, they can differentiate rates depending on the Liquidity Coverage Ratio (LCR) treatment applicable to the deposits.

From October 15, 2026, UPI transactions made by merchants will attract the Merchant Discount Rate (MDR) on select transactions. The MDR will apply to specific merchant transactions above Rs 2,000.

Payments up to Rs 2,000 and transactions under the zero-MDR framework for small traders would remain free. As a result, about 96% of all person-to-merchant (P2M) transactions will remain unaffected. The MDR will not be the same for every merchant, as the applicable rate will depend on the industry or the category in which the merchant operates.

The Pension Fund Regulatory and Development Authority (PFRDA) has revised the charges that Points of Presence (PoPs) can collect from subscribers under the NPS and the NPS Lite.

The revised charges will apply from October 1, 2026.

Under the new structure, a subscriber registering through a PoP will have to pay a one-time onboarding charge of Rs 200 for each Permanent Retirement Account Number (PRAN).
The Rs 200 fee will not be deducted as a single amount from the subscriber's account.

Domestic LPG consumers who have not completed their Biometric Aadhaar Authentication (BAA) need to complete it before October 1, 2026, to book a refill at the regulated selling price (RSP) with subsidy.

Once the authentication is completed, refill booking at the RSP, along with the applicable government subsidy, will be enabled.