Starting November 1, banks will allow customers to nominate up to four people for a single account, locker, or safe custody item.
Several finance and regulatory rules are set to change starting November 1, 2025. These changes will affect your banking, credit cards, personal identification documents, and government schemes. From Aadhaar update charges to changes in GST slabs and card fees, let’s take a look at the significant changes that will take effect from November 1.
No Fees Required for Aadhaar Updates
The Unique Identification Authority of India (UIDAI) has waived the Rs 125 fee for biometric updates on children’s Aadhaar cards. This will be valid for one year. Updating names, dates of birth, addresses, or mobile numbers for adults will cost Rs 75, and for changes to biometric details, such as fingerprints and iris scans, it will cost Rs 125.
This Banking Rule Will Change
Starting November 1, banks will allow customers to nominate up to four people for a single account, locker, or safe custody item. This new rule aims to make it easier for families to access funds in times of emergency and avoid disputes over ownership. The process of adding or changing nominees has also been simplified for customers.
What Will Change With SBI cards?
Starting November 1st, SBI card users will have to pay a 1 per cent fee on education-related payments made through third-party apps like MobiKwik and CRED. Additionally, a 1 per cent fee will also apply for digital wallet payments exceeding Rs 1,000 using an SBI card.
Life Certificates Must Be Submitted to Receive Pension
All retired central and state government employees are required to submit their annual life certificates by the end of November. They can do this at their bank branch or online through the Jeevan Pramaan portal. Missing the deadline may result in a delay or even a stoppage of pension payments.
LPG cylinder prices may change from November 1
State-owned oil marketing companies in India revise LPG cylinder prices on the first of every month, meaning new prices will be announced on November 1, 2025.
New GST Slabs Will Be Implemented
Starting November 1, the government will introduce a new two-slab GST system with special rates for certain items. The previous four-slab system of 5 per cent, 12 per cent, 18 per cent, and 28 per cent will be replaced. The 12 per cent and 28 per cent slabs will be eliminated, while luxury and sin goods will be charged at 40 per cent. This move aims to simplify India’s indirect tax structure.
Deadline For Switching From NPS To UPS
Central government employees who wish to switch from the National Pension System (NPS) to the Unified Pension Scheme (UPS) now have until November 30 to complete the process. This extension will give employees more time to review and make the switch.