New Delhi: October brings changes affecting household spending, banking, property purchases and trade. Some measures concern compliance, while others involve possible price revisions. Here are ten developments outlined in the report.
1. PUC Checks
Vehicles without valid Pollution Under Control certificates face fuel restrictions in Delhi-NCR from October 1. Cameras and vehicle databases will support checks. Violations could attract a Rs 10,000 fine.
2. LPG Subsidy Authentication
Aadhaar biometric authentication becomes necessary for LPG subsidy benefits. Customers can still obtain refills without authentication but may need to pay market prices. Verification is available through agencies, delivery personnel or company apps.
3. Deposit Rate Transparency
Banks must disclose and update interest rates for bulk deposits of Rs 3 crore or more. The deposit threshold itself is not new.
4. Appliance Price Increases
Some manufacturers have indicated increases in prices of air conditioners, televisions, refrigerators and washing machines, citing higher costs. Changes will vary by company.
5. Fuel Price Reviews
Oil marketing companies review commercial LPG and aviation turbine fuel prices monthly. Revised October rates will determine whether costs rise or fall.
6. Birth And Death Registration
Registration within 21 days remains free. Delayed applications require additional verification. Delays exceeding one year but within two require designated executive approval; longer delays require a first-class judicial magistrate’s order.
7. Buying NRI Property
Resident individuals and Hindu Undivided Families buying property from NRIs can complete tax deduction reporting using PAN, without obtaining a separate TAN.
Also read: August Financial Calendar: ITR Deadline, RBI MPC Meet And Banking Rule Changes To Watch
8. NPS Changes
NPS Swasthya is scheduled for launch, linking retirement savings with healthcare benefits. A revised framework for Point of Presence charges also takes effect.
9. Digital Banking Records
The Bankers’ Books Evidence Act, 2026, replaces the earlier law, recognising electronic and digital banking records within the legal framework.
10. Import Payment Flexibility
Under revised FEMA arrangements, banks will determine import payment timelines according to agreements between Indian businesses and overseas suppliers, replacing prescribed deadlines and giving traders greater flexibility.
