Mumbai/New Delhi: The sun has risen on 2026, but for thousands of bank customers and car owners, it brings bad news.
With the expiry of the strict December 31, 2025 deadline, banks and authorities have started taking action against non-compliant accounts starting this morning. If you missed the deadline, you might face a “Service Block” today.
Here is the status of the 3 major services and how to reactivate them.
1. Bank Lockers: “Operation Frozen”
If you did not sign the revised Safe Deposit Locker Agreement by 5:00 PM yesterday, your bank has likely put a “Stop Operation” marker on your locker effective today.
- The Impact: You can visit the bank, but you cannot open your locker to take out jewelry or documents until the paperwork is done.
- The Fix:
- Visit your branch today (Jan 1).
- Ask for the “Revised Locker Agreement”.
- Sign it on the spot (bring a stamp paper if your bank requires it).
- The freeze is usually lifted instantly or within 24 hours.
2. FASTag: Risk of “Double Toll”
The National Highways Authority of India (NHAI) deadline to update KYC for FASTags also ended last night.
- The Status: FASTags with incomplete KYC (or those linked to multiple vehicles) have been moved to the “Blacklist” or “Low Balance” category from midnight.
- The Risk: If you drive through a toll plaza today with a blacklisted tag, the scanner will not read it, and you will be forced to pay Double the Toll Amount in cash.
- How to Check:
- Log in to your FASTag app (Paytm/Park+ or Bank App).
- If the status says “Active” (Green), you are safe.
- If it says “Suspended/Blacklisted”, upload your RC and ID proof immediately online.
3. Credit Card Rules: New Charges from Today
Silently, major banks like HDFC Bank, SBI Card, and ICICI Bank have enforced new devaluation rules starting Jan 1, 2026.
- Rent Payments: Processing fees for paying rent via credit card have been hiked (now approx 1.5% to 2% + GST).
- Utility Bills: Reward points on electricity and water bill payments have been capped or removed on premium cards.
- Education Payments: Using apps like Cred/Paytm for college fees via credit card will now attract a 1% surcharge.
- Action: Check your email for the “Terms & Conditions Update” sent by your bank last month to avoid shock charges in your next statement.
4. Income Tax: The Window is Closed
The window to file a “Belated ITR” for FY 2024-25 closed last night.
- Can I file today? No. You can no longer file a standard return.
- The Only Way: You can now only file an ITR-U (Updated Return), but you will have to pay 25% to 50% additional tax on your income.
FAQs
This is due to “One Vehicle, One FASTag” rule. If your KYC documents (RC copy) were not uploaded or matched, the tag is blocked despite having money.
No. The bank will not break it open yet. They simply restrict your access. Breaking open happens only if rent is unpaid for 3 years.
Yes, usually lounge access rules and utility spend rewards are reset on Jan 1. Check if you meet the “Quarterly Spend Milestone” to access lounges this quarter.
Disclaimer
This advisory is based on RBI, NHAI, and CBDT compliance timelines effective January 1, 2026. Bank-specific penalties may vary.
Also Read:
- NPS Rules Changed (Jan 1): Withdraw 80% Cash & Stay Till 85 – Check New Benefits
- Good News for Savers: PPF, Sukanya & SCSS Interest Rates for Jan 2026 Announced
- New UPI Rules from Today (Jan 1): ₹5 Lakh Limit & IDs Deactivated? Know the Truth
- New Year Gift: Commercial LPG Prices Slashed on Day 1 of 2026; PNG Rates Also Cut – Check Latest Rates
