7 major financial rule changes from November 1: Aadhaar, bank, GST, and more

From Aadhaar update fees to new GST slabs, several financial rules take effect from November 1, directly impacting your daily expenses and transactions.

India sees several new financial rules coming into force from November 1, 2025. These updates, issued by various government agencies and banks, will have a direct impact on citizens’ day-to-day expenses and banking transactions. Here’s a clear look at the seven key changes:

1. Aadhaar Update Fees Revised

The Unique Identification Authority of India (UIDAI) has made changes to Aadhaar update charges.

•    For children’s Aadhaar cards, biometric updates are now free for one year.
•    For adults, updating details like name, date of birth, address, or mobile number will cost ₹75.
•    For biometric updates such as fingerprint or iris scans, the fee is ₹125.

Citizens can also update Aadhaar details online, including address, name, and date of birth.

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2. New Bank Nominee Rules

From today, banks will allow customers to add up to four nominees for their accounts, lockers, or safe deposits.

The rule aims to make ownership transfer easier during emergencies and avoid family disputes.

Customers can add, remove, or modify nominees through a simplified process introduced by banks.

3. New GST Slab System Introduced

The government has introduced a new dual GST structure effective November 1.

•    Earlier, there were four slabs, 5%, 12%, 18%, and 28%.
•    Now, the system has been revised to two flat GST rates, 5% and 18%.
•    The 12% and 28% slabs have been removed, while luxury goods will attract a 40% tax.

This change aims to simplify the GST structure and make taxation more transparent.

4. NPS to UPS Migration Deadline Extended

Central government employees who want to switch from the National Pension System (NPS) to the Unified Pension Scheme (UPS) now have time until November 30, 2025.

This extension allows more time for employees to review the benefits and complete the transition smoothly.

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5. Pensioners Must Submit Life Certificate

All retired central and state government pensioners must submit their annual Life Certificate by November 30.

They can do so either at their bank branch or online via the Jeevan Pramaan portal.

Failure to submit the certificate on time may result in delayed or stopped pension payments.

6. PNB Locker Fee Revision

Punjab National Bank (PNB) will soon revise its locker rental fees across India.

The new rates will depend on locker size and category, and are expected to be announced this month.

Once officially notified, the revised fees will take effect 30 days after the announcement.

7. New SBI Card Charges Introduced

SBI Card users will now pay a 1% convenience fee on certain transactions.

•    The fee applies to education-related payments made via third-party apps like MobiKwik and Cred.
•    Additionally, any digital wallet top-up above ₹1,000 using an SBI credit card will also attract a 1% charge.

These changes are expected to impact frequent digital users and online payers.