7 Major Financial Changes from November 1: Aadhaar, Bank Rules, GST and More You Need to Know
As November 2025 begins, a series of crucial financial updates will come into effect—impacting your bank accounts, Aadhaar details, taxation, and even credit card usage. From revised Aadhaar update charges to new GST slabs and bank locker fees, here’s a detailed look at the 7 key financial changes starting November 1 that could affect your daily money matters.
1. Aadhaar Update Charges Revised
Starting November 1, the Unique Identification Authority of India (UIDAI) has updated Aadhaar service charges. Biometric updates for children will now be free for one year, making it easier for parents to keep their child’s Aadhaar details current.
For adults, updating demographic details such as name, date of birth, address, or mobile number will cost ₹75, while biometric updates like fingerprints or iris scans will cost ₹125.
A major convenience is that Aadhaar holders can now update their name, date of birth, or address online without needing to upload supporting documents.
2. New Bank Nomination Rules
Banks across India are implementing new nomination guidelines from November 1. Customers will now be able to nominate up to four individuals for a single bank account, locker, or safe custody item.
This change will help families access funds more smoothly during emergencies and reduce ownership disputes. The nominee addition or modification process has also been simplified for better customer convenience.
3. Simplified GST Slabs Introduced
The Goods and Services Tax (GST) structure will see a significant overhaul this month. The previous four-slab system (5%, 12%, 18%, and 28%) will be replaced with a simplified two-slab structure.
The 12% and 28% rates will be removed, and a special 40% GST rate will apply to luxury and sin goods. The government’s move aims to streamline India’s indirect tax system and reduce compliance complexities.
4. NPS to UPS Deadline Extended
Central government employees now have until November 30 to shift from the National Pension System (NPS) to the Unified Pension Scheme (UPS).
This extension provides more time for employees to evaluate their retirement options and make a well-informed decision. The government’s move ensures smoother transition for those opting for the new pension structure.
5. Pensioners Must Submit Life Certificate
All central and state government pensioners are required to submit their annual Life Certificate by November 30.
The submission can be done in person at a bank branch or digitally through the Jeevan Pramaan portal. Missing the deadline may lead to a delay or temporary suspension of pension disbursement.
6. PNB Locker Charges to Be Revised
Punjab National Bank (PNB) will soon roll out revised locker rent charges across its branches. The rates will vary based on locker size and customer category.
These updates are expected to be announced in November and will take effect 30 days after official notification. Customers are advised to check their bank’s communication for detailed information.
7. New Fees for SBI Cardholders
From November 1, SBI Card users will see new fee structures for certain transactions. A 1% fee will now apply to education-related payments made via third-party apps such as MobiKwik and CRED.
Additionally, adding over ₹1,000 to a digital wallet using an SBI Card will also attract a 1% processing fee. Cardholders are advised to review these updates to avoid unexpected deductions.
These financial changes effective from November 1 reflect the government’s efforts to enhance transparency, simplify taxation, and improve customer convenience. Whether it’s updating your Aadhaar, adjusting to new GST slabs, or reviewing your bank’s new rules - staying informed will help you manage your finances more efficiently this month.
1. Aadhaar Update Charges Revised
Starting November 1, the Unique Identification Authority of India (UIDAI) has updated Aadhaar service charges. Biometric updates for children will now be free for one year, making it easier for parents to keep their child’s Aadhaar details current.
For adults, updating demographic details such as name, date of birth, address, or mobile number will cost ₹75, while biometric updates like fingerprints or iris scans will cost ₹125.
A major convenience is that Aadhaar holders can now update their name, date of birth, or address online without needing to upload supporting documents.
2. New Bank Nomination Rules
Banks across India are implementing new nomination guidelines from November 1. Customers will now be able to nominate up to four individuals for a single bank account, locker, or safe custody item.
This change will help families access funds more smoothly during emergencies and reduce ownership disputes. The nominee addition or modification process has also been simplified for better customer convenience.
3. Simplified GST Slabs Introduced
The Goods and Services Tax (GST) structure will see a significant overhaul this month. The previous four-slab system (5%, 12%, 18%, and 28%) will be replaced with a simplified two-slab structure.
The 12% and 28% rates will be removed, and a special 40% GST rate will apply to luxury and sin goods. The government’s move aims to streamline India’s indirect tax system and reduce compliance complexities.
4. NPS to UPS Deadline Extended
Central government employees now have until November 30 to shift from the National Pension System (NPS) to the Unified Pension Scheme (UPS).
This extension provides more time for employees to evaluate their retirement options and make a well-informed decision. The government’s move ensures smoother transition for those opting for the new pension structure.
5. Pensioners Must Submit Life Certificate
All central and state government pensioners are required to submit their annual Life Certificate by November 30.
The submission can be done in person at a bank branch or digitally through the Jeevan Pramaan portal. Missing the deadline may lead to a delay or temporary suspension of pension disbursement.
6. PNB Locker Charges to Be Revised
Punjab National Bank (PNB) will soon roll out revised locker rent charges across its branches. The rates will vary based on locker size and customer category.
These updates are expected to be announced in November and will take effect 30 days after official notification. Customers are advised to check their bank’s communication for detailed information.
7. New Fees for SBI Cardholders
From November 1, SBI Card users will see new fee structures for certain transactions. A 1% fee will now apply to education-related payments made via third-party apps such as MobiKwik and CRED.
Additionally, adding over ₹1,000 to a digital wallet using an SBI Card will also attract a 1% processing fee. Cardholders are advised to review these updates to avoid unexpected deductions.
These financial changes effective from November 1 reflect the government’s efforts to enhance transparency, simplify taxation, and improve customer convenience. Whether it’s updating your Aadhaar, adjusting to new GST slabs, or reviewing your bank’s new rules - staying informed will help you manage your finances more efficiently this month.
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