10 Big Changes From October 1 Could Hit Your Household Budget, From LPG Subsidy To Property & Banking Rules
Ten major changes take effect from October 1, covering LPG subsidy, PUC, banking, property, NPS, appliances, digital records and foreign trade.
Ten major changes take effect from October 1. |
New Delhi: Several important rules related to LPG cylinders, vehicles, banking, property, pensions and foreign trade have changed from October 1. Some of these changes could directly affect household expenses and financial transactions.
Here are 10 major changes you should know-
No PUC, No Fuel In Delhi-NCR
Vehicles without a valid Pollution Under Control certificate may not get petrol or diesel in Delhi-NCR. Petrol pumps will use cameras and vehicle databases to check PUC status. Violations may also attract a fine of up to Rs 10,000.
LPG Subsidy Rule Changes
Aadhaar biometric authentication is now required to get LPG at the regulated price with applicable subsidy. Consumers without authentication can still get cylinders but may have to pay the applicable market price.
Banks Face New Disclosure Rules
Banks will have to clearly disclose interest rates offered on bulk fixed deposits of Rs 3 crore and above and update these rates on their websites within the prescribed time.
ACs, TVs And Fridges May Cost More
Some companies have indicated price increases for appliances such as air conditioners, televisions, refrigerators and washing machines due to higher input, metal and freight costs.
LPG And ATF Rates
Oil marketing companies review commercial LPG and aviation turbine fuel prices at the beginning of every month. Revised rates, if any, will apply accordingly.
Birth And Death Registration
Registration within 21 days remains free. Longer delays may require additional verification and approval from designated authorities or magistrates.
Buying Property From NRIs Gets Easier
Resident individuals and HUFs buying property from NRIs will no longer need a separate TAN for TDS. PAN-based reporting can be used instead.
NPS Changes
NPS Health is scheduled to be launched from October 1, linking retirement savings with healthcare-related benefits. A revised framework for Point of Presence charges will also apply.
Digital Bank Records
The Bankers' Books Evidence Act, 2026 comes into effect, giving electronic and digital banking records a clearer legal framework.
Foreign Trade Rules Eased
RBI's FEMA changes will provide greater flexibility for import payments. Banks can determine payment timelines based more closely on agreements between Indian businesses and overseas suppliers.
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