Starting November 1, 2025, new changes will affect banking, GST, Aadhaar, and pension rules in India. Key updates include the ability to add multiple bank nominees, a simplified two-tier GST structure, and new fees on certain SBI card transactions.
Starting November 1, 2025, a set of important rule changes will roll out across India and they’re likely to affect how you bank, pay taxes, update your Aadhaar, or even access your pension. From new GST slabs to relaxed Aadhaar update rules, here’s a quick guide to what’s changing and how it could impact you.
Banking: You Can Now Add Multiple Nominees
Good news for bank account holders. You will soon be able to add up to four nominees per account instead of just one. You can even decide what percentage of your funds each nominee will get, offering more flexibility in how you plan your assets.
A new “successive nominee” feature ensures that if one nominee passes away, the next in line automatically becomes active, no extra paperwork needed. Though it’s not mandatory to have nominees, banks must now inform all customers about this new option.
GST: Simpler Tax Structure, Fewer Slabs
The Goods and Services Tax (GST) system is getting a major revamp. The government is set to scrap the 12% and 28% slabs and move to a two-tier structure for easier compliance.
Luxury and sin goods, like tobacco, high-end cars, and liquor, will now attract a 40% tax rate, bringing more clarity to how products are taxed. The move is aimed at simplifying the GST structure for both businesses and consumers.
SBI Cards: New Fees on Education and Wallet Payments
If you use an SBI credit card for school or college fee payments, take note. Starting November 1, a 1% fee will apply on education-related payments made through third-party apps like MobiKwik or CRED.
Similarly, adding more than Rs 1,000 to a digital wallet using your SBI card will also attract a 1% charge. The change is meant to streamline digital transactions and reduce misuse of cashback-based apps.
Aadhaar: Updates Get Easier (and Cheaper for Kids)
The Unique Identification Authority of India (UIDAI) has announced new Aadhaar update rules. Biometric updates for children will now be free for one year (earlier Rs 125), while adults will pay Rs 75 for demographic changes such as name or address and Rs 125 for biometric updates.
In a big relief, you can now make online updates without uploading documents, making the process faster and more convenient for users.
Pension: Life Certificate Deadline Nears
Government pensioners have a deadline coming up, submit your life certificate by November 30 to avoid pension delays or stoppage. Those switching from the National Pension System (NPS) to the Unified Pension Scheme (UPS) must also finish the process this month to ensure a smooth transition.
PNB: Locker Charges Revised
Punjab National Bank (PNB) is revising its locker rental rates based on locker size and customer type. The updated rates will be published on the bank’s website in November, and will come into effect 30 days after the official notification. Smaller locker users may see some relief as part of the rationalization.