New Delhi, Sept. 30 -- A series of crucial financial and regulatory changes is scheduled to be implemented from 1 October 2025. These decisions include the Reserve Bank of India's (RBI) amendments to interest on advances, gold metal loans to Indian Railways, and tightening the online booking norms for customers.

1. Interest rate on advances: India's banking regulator, the RBI, has allowed banks the freedom to decide the interest rate of floating-rate loans, which will benefit the borrowers sooner than the previous three-year limit.

The banks will also be able to provide their borrowers with the option to switch from a fixed interest rate setup to a floating interest rate setup, at their discretion, from 1 October 2025.

2. Loans against...