New Changes That Affect Your Pocket: Since November, several major changes have been made to financial regulations, including the ability to nominate up to four nominees in bank accounts, fee-free Aadhaar updates for children for one year, simplified GST slabs, and the requirement for pensioners to submit life certificates. These changes will make financial services more transparent, secure, and convenient.
Several significant financial regulatory changes have come into effect in India, impacting public banking, taxation, digital payments, Aadhaar updates, and pension systems, starting in November 2025. These regulations aim to make financial processes more transparent, secure, and convenient.
Changes in banking nomination rules
Starting November 1st, multiple nominations will be available for bank accounts, safety lockers, and safekeeping. Account holders will now be able to designate up to four nominees at a time and determine the share of each nominee. This will simplify and ensure a hassle-free inheritance process.
Aadhaar Update Rules
UIDAI has decided to waive any fees for biometric Aadhaar updates for children for one year. For adults, the fee for updating name, address, date of birth, or mobile number will be ₹75, and for biometric changes, it will be ₹125. Many updates will now be possible online, increasing user convenience.
New GST slabs
GST slabs will be simplified starting from the new fiscal year. The 12% and 28% slabs will be replaced by two main slabs, with a higher 40% slab for luxury and sin goods. This will make the tax structure more transparent and easier to do business.
Important changes in pension rules
Central and state government pensioners will be required to submit life certificates on time. There will also be changes to the National Pension Scheme and Unified Pension Schemes, with the deadline for switching between these schemes extended to November 2025.
Also Read: GST collection rises 4.6% to ₹1.96 lakh crore in October
SBI Card Fees and Digital Payment Rules
SBI cardholders will be charged a 1% additional fee on education payments and digital wallet recharges. The use of approved digital channels like UPI for toll payments will be encouraged, but toll charges will increase slightly.
Punjab National Bank Locker Rent Reduction
PNB has announced a nationwide locker rent reduction, which will be implemented within 30 days of official notification. This will be a relief for customers.
Changes in FASTag rules
FASTags for vehicles that do not complete KYV (Know Your Vehicle) verification may be deactivated. Banks have been instructed to send reminders to customers to simplify the process.
Also Read: Delhi’s Old Vehicle Policy: NOC Granted for 10-Year Diesel & 15-Year Petrol Cars
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