LPG booking rules change from October 1st: consumers will require biometric authentication to receive subsidies

The Reserve Bank of India (RBI) plans to make adjustments to the structure regulating interest rates on large fixed deposits (FDs). These new rules will come into effect on October 1, 2026. The RBI's goal is to enhance transparency and improve the system.

Furthermore, the central bank aims to provide banks with some flexibility regarding liquidity requirements, which necessitates these changes.

Under the revised rules, banks are required to disclose information about large fixed deposits daily by 10 AM. Banks will be given 10 minutes to update rates. When paying interest on deposits, including large sums, banks must adhere to the rates displayed on their websites, regardless of the amount deposited.

These changes will increase depositor confidence and ensure greater transparency. A large deposit is defined as a fixed deposit of ₹30 million or more. Interest rates applied to such deposits may differ from those offered on regular savings accounts.

Another significant change is the prohibition of setting different rates for the same amounts. Previously, banks could apply varying rates across their different branches, but now all branches must offer the same rate for large deposits received on the same day.

However, this structure allows banks to differentiate rates under certain circumstances related to liquidity requirements. Banks may offer different interest rates on large deposits depending on the withdrawal rate applicable within the Liquidity Coverage Ratio (LCR) framework.

There are only five days left until the beginning of October, after which a number of significant changes will come into force in the country, including a new rule concerning liquefied petroleum gas (LPG) that every LPG user needs to know.

The government plans to introduce new norms for domestic gas cylinders starting October 1st. According to these rules, the use of biometric authentication based on Aadhaar (BAA) is now mandatory. Without completing this procedure, it will be difficult to receive a subsidy for the cylinder, which may require purchasing a more expensive cylinder.

The government previously clarified the changes in the procedure for booking LPG cylinders, which will come into effect on October 1st. Now, to order at the price set by the regulated retail price and to receive a government subsidy for LPG, consumers must undergo Aadhaar biometric authentication (BAA).

If an LPG user does not comply with this requirement before October 1st, according to the new rules, they will continue to receive cylinders, but they will be forced to purchase the LPG cylinder at market value and lose the benefit of the government subsidy.

It is important to note that consumers who have already completed the biometric authentication procedure will not need to undergo this process again. The goal of this government step is to ensure that subsidies for cylinders go to the families that are entitled to them.

Furthermore, this will help prevent commercial and industrial use of subsidized domestic cylinders, as well as identify duplicate and illegal connections. According to the Ministry of Petroleum, 27.43 million active domestic LPG consumers across the country completed biometric authentication by September 19th.

Regarding the LPG cylinder subsidy, in September 2026, the indirect subsidy for a 14.2 kg domestic LPG cylinder amounts to about 210 rupees. LPG consumers can easily complete this procedure, as there are several options available. Authentication can be done during the home delivery of the LPG cylinder.

There is also an option to complete the process by visiting the showroom of their gas distributor. If it is necessary to do this remotely, the process can be carried out through the mobile applications of state oil companies: IndianOil ONE, HelloBPCL, and HP PAY.