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Financial Changes From November 1: Starting November 1, 2025, several financial and regulatory changes will come into effect, impacting your banking, credit cards, and personal identification documents.

Here are the changes that will directly impact your monthly budget, including new goods and services tax (GST) slabs, Aadhaar updates, the bank nomination process, card charges, pension requirements, and more.

UIDAI Aadhaar Update Charges

- The Unique Identification Authority of India (UIDAI) has waived fees for mandatory biometric updates of children’s Aadhaar details for one year.

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- For adults, updating details such as name, date of birth, address, or mobile number will cost Rs 75, while biometric updatesincluding fingerprints and iris scans, will cost Rs 125.

Bank Nomination Rules From November 1

- Starting November 1, the Banking Laws Act amendments will change how customers nominate beneficiaries.

- According to the new rule, customers can name up to four nominees for accounts and locker items, with each nominee’s share or percentage clearly defined.

- Customers can also designate successive nominees, who inherit entitlements after the prior nominee’s death.

- This rule aims to reduce disputes over ownership and ensure a smoother transfer of assets.

Life Certificate For Pensioners And Switch From NPS To UPS By Nov-End

- Retired central and state government employees must submit their ‘life certificate’ at their nearest bank by November-end to continue receiving pensions.

- Those planning to move from the National Pension Scheme (NPS) to the Unified Pension Scheme (UPS) must complete the process within the same deadline.

New Charges For SBI Cardholders On THESE Payments

- SBI cardholders will incur a 1 per cent fee for education-related payments made through third-party apps such as MobiKwik and CRED.

- Additionally, a 1 per cent charge will also apply to transactions above Rs 1,000 for recharging bank wallets.

LPG Cylinder Prices To Be Revised

- The Oil Marketing Companies (OMCs) revise LPG cylinder prices on the first of every month.

- Following this pattern, new prices are expected on November 1, which could have a direct impact on household expenses.

ALSO READ: Indian Railways Begins OTP System For 'Opening Tickets'; Here's How To Book Using Aadhar

New Two-Slab GST From November 1

- From November 1, the government will implement a new two-slab GST system, replacing the earlier four-slab structure of 5%, 12%, 18%, and 28%, the finance ministry said.

- The 12 per cent and 28 per cent slabs will be removed, while sin and luxury goods will attract a 40 per cent rate.

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