SBI Reduces Free ATM Transactions for Salary Account Holders Starting October 1, 2026

State Bank of India (SBI) is implementing changes to its free transaction policy for salary package account holders. Who will now be limited to five transactions per month. Regardless of the bank operating the ATM or Automated Deposit cum Withdrawal Machine (ADWM). The new rules will take effect on October 1, 2026, and will affect both financial and non-financial transactions.

For Basic Savings Bank Deposit (BSBD) accounts, customers will continue to enjoy four free cash withdrawals every month. Any additional transactions will be subject to a fee of Rs 15 plus Goods and Services Tax (GST). Digital transactions, however, will remain free and unrestricted.

The Reserve Bank of India (RBI) is introducing new guidelines for commercial banks to set and disclose interest rates on bulk fixed deposits. The revised norms will also come into effect on October 1, 2026.

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Under the new framework, banks will be required to announce their bulk deposit interest rates in advance, and disclose the applicable rates daily at 10 am.

The Pension Fund Regulatory and Development Authority (PFRDA) has revised the charges that Points of Presence (PoPs) can collect from subscribers under the National Pension System (NPS) and NPS Lite. The revised fee structure will take effect from October 1, 2026.

Subscribers who open an NPS account through a PoP will be charged a one-time onboarding fee of Rs 200 for each Permanent Retirement Account Number (PRAN).

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This fee increase is part of a broader effort to strengthen the NPS and NPS Lite schemes. The revised charges will apply to all subscribers, regardless of their account type or tenure.

Domestic LPG consumers who have yet to complete their Biometric Aadhaar Authentication (BAA) will need to do so by October 1. 2026, to book a refill at the regulated selling price (RSP) while receiving the applicable subsidy.

Failure to complete the authentication process by the deadline may result in consumers being charged the higher subsidy rate. The RBI has emphasized the importance of Aadhaar authentication for LPG consumers to ensure they receive the correct subsidy amount.