As we enter November 2025, various new regulations are set to come into effect, impacting your everyday financial activities.
The Unique Identification Authority of India (UIDAI) has announced changes in Aadhaar update charges. Children’s biometric updates on Aadhaar cards will now be free for a year, waiving the previous Rs 125 fee. For adults, updating details like name, date of birth, address, or mobile number will cost Rs 75, while biometric updates such as fingerprints or iris scans will be charged at Rs 125. Notably, individuals can now update their Aadhaar details online without the need for supporting documents.
Effective November 1, banks will now allow customers to nominate up to four individuals for a single account, locker, or safe custody item. This adjustment aims to simplify fund access during emergencies and reduce ownership disputes, with a more streamlined process for adding or changing nominees.
A new two-slab GST system will be implemented from November 1, replacing the previous four-tier structure. The 12% and 28% slabs will be eliminated, and a 40% rate will apply to luxury and sin goods. This change intends to streamline India’s indirect tax system.
Central government employees interested in shifting from the National Pension System (NPS) to the Unified Pension Scheme (UPS) now have until November 30 to complete the transition. The deadline extension provides employees with additional time to evaluate and make the switch.
Retired central and state government employees must submit their annual Life Certificate by the end of November to their bank branch or through the Jeevan Pramaan portal. Failure to meet this deadline could result in pension payment delays or suspensions.
Punjab National Bank (PNB) is preparing to adjust its locker rent charges nationwide, with the new rates based on locker size and category. The revised charges are expected to be announced in November and will take effect 30 days after notification.
Starting November 1, SBI Card users will incur a 1% fee for education-related payments made through third-party apps like MobiKwik and CRED. Additionally, loading over Rs 1,000 into a digital wallet using an SBI Card will also attract a 1% fee.