From November 2025, several new financial rules have come into effect in India that directly impact your banking, taxes, pensions, Aadhaar updates, and digital payments. These updates aim to make financial processes more transparent, secure, and convenient for the public.
1. New Rules for Bank Account Nominations
- Starting November 1, bank account holders can now add up to four nominees for their accounts, safety lockers, and deposit vaults.
- You can also decide the percentage share each nominee will receive.
- This change makes the inheritance process smoother and reduces disputes among family members.
2. Aadhaar Update Rules: Free for Children
- UIDAI has announced that biometric updates for children’s Aadhaar will be free for one year.
- For adults, updating name, address, birth date or mobile number will cost Rs. 75, while biometric updates will cost Rs. 125.
- Most updates can now be done online, making the process quicker and more convenient.
3. New GST Structure Introduced
- The government plans to simplify GST rates from the upcoming financial year.
- The current 12% and 28% slabs will be replaced by two main slabs.
- A new 40% GST slab will apply to luxury and sin goods such as high-end cars, tobacco, alcohol, etc.
- This move will make the tax system more transparent and business-friendly.
4. Important Pension Rule Changes
- Central and state government pensioners must submit their life certificates on time to continue receiving pensions.
- Updates have also been made to the National Pension System (NPS) and Unified Pension Scheme, with the deadline to switch between schemes extended until November 2025.
5. SBI Card Charges and Digital Payment Updates
- SBI credit card holders will now pay an extra 1% fee on education-related payments and digital wallet recharges.
- Digital toll payments through approved methods like UPI, net banking, and cards will be encouraged.
- Toll fees may see a slight increase.
6. PNB Reduces Locker Rent
- Punjab National Bank (PNB) has announced a reduction in locker rent across all branches.
- This change will be applicable within 30 days of the official notification, offering relief to locker users nationwide.
7. New FASTag Rules for Vehicles
- FASTags that are not verified under the Know Your Vehicle (KYV) process may be deactivated.
- Banks have been instructed to send reminders to vehicle owners to complete the verification process on time.
- This will help ensure smoother toll payments and reduce misuse.
