New Rules: Bank rules, Aadhaar card, GST… many rules will change from November, will affect your pocket

New Rules from November 1st: Bank nomination rules will change from November 2025. Furthermore, there will be relief for Aadhaar updates, pensioners will be required to submit life certificates, and GST slab changes will be implemented. Let’s explore these changes.

New rules from November 1st: The month of November begins tomorrow, bringing with it a host of changes related to your finances, banking, card usage, and government document updates. Simply put, some things will become more expensive from November, some processes will become easier, and some tasks may become problematic if not completed on time. Therefore, understand these changes in advance and plan your actions accordingly.

More Nominees Now Available in Bank Accounts

Changes to banking laws will come into effect from November 1st. Bank account holders will now be able to add up to four nominees simultaneously and can also determine the share/percentage of each nominee. Additionally, the option of a successor nominee will be available, meaning that upon the death of the previous nominee, the next nominee will automatically become active.

RBI has instructed banks to clearly inform every customer about the nomination facility. Even if a person does not wish to add a nominee, opening a bank account is permitted; there will be no restrictions. Note that if a nominee dies, their share will be considered cancelled.

Major Changes in GST

From November 1st, the four-slab GST system will be abolished, with two slabs plus a special rate. The 12% and 28% slabs will be removed, and an additional 40% tax slab will be applicable on luxury/sin goods.

Extra Charges on SBI Card Payments

From November 1st, SBI card users will be charged a 1% charge on education payments if made through third-party apps like MobiKwik or CRED. A 1% charge will also apply for wallet balances exceeding ₹1,000.

Aadhaar Update

UIDAI has waived the ₹125 charge for mandatory biometric update (MBU) for children. This waiver came into effect from October and will be available for one year. For adults, the charge for updating name/address/mobile number/date of birth will be ₹75, and for biometric changes (fingerprint-iris) it will be ₹125. You can now update your address, date of birth, name, and mobile number online, without the need to upload any documents.

Important Reminder for Pensioners

Central and state government pensioners must submit life certificates by the end of November, or their pensions may be withheld. Employees wishing to shift from the NPS to the UPS scheme must also do so by November.

PNB Locker Charges Changes

Punjab National Bank is reducing its locker charges. The new rates, depending on the size and category, will be posted on the website in November and will become effective 30 days after the notification.

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