Major Financial Changes from 1 November That Could Impact Your Money
Bank nomination rules, Aadhaar update fees, SBI Card charges and pension deadlines all change from 1 November—what you need to know for your wallet.
Pune, November 01, 2025: Starting November 1, 2025, several major financial and policy changes are set to come into effect across India, directly impacting how citizens handle their banking, identification, and retirement affairs. These updates include revised bank nomination rules, changes in Aadhaar update fees, new credit card charges, and deadlines related to pensions and tax regulations.
The Reserve Bank of India has introduced expanded bank nomination rules, giving account and locker holders greater flexibility. Customers can now name up to four nominees and assign specific percentages of the account balance to each, ensuring smoother legal transfer in case of emergencies. Successive nomination, where one nominee replaces another automatically, will also be available. This step aims to eliminate legal disputes over inheritance and simplify fund settlement for heirs.
Meanwhile, the Unique Identification Authority of India (UIDAI) has revised Aadhaar update fees and simplified the process. From November 1, non-biometric updates such as name, address, or mobile number will cost ₹75, while biometric updates like fingerprint and iris scans will cost ₹125. For children, updates remain free for the next year. UIDAI has also eased documentation requirements for select demographic updates, streamlining the experience for millions who rely on Aadhaar for official identification and government benefits.
In a move that may affect digital consumers, SBI Card has announced new transaction-related charges. Payments for education or tuition fees made through third-party apps such as CRED or Paytm using an SBI credit card will now attract a 1% fee. Similarly, wallet reloads above ₹1,000 will incur the same 1% charge. This change could make digital payments slightly more expensive for frequent card users, prompting many to consider alternative methods like UPI or direct bank transfers.
For pensioners, November is also a crucial month. Retired government employees are required to submit their annual Life Certificate to continue receiving pension payments without interruption. The final deadline for submission is November 30. Additionally, those under the National Pension System (NPS) who plan to migrate to the new Unified Pension Scheme (UPS) must complete the transition before the same date to avoid delays or complications in fund transfers.
On the taxation front, the Goods and Services Tax (GST) framework will undergo procedural changes from November 1, impacting the classification of certain goods and services. Businesses are advised to stay updated with the new rate adjustments and compliance timelines to avoid penalties. These reforms are expected to enhance transparency and streamline tax collection.
Collectively, these developments represent a significant shift in India’s financial landscape. While most are aimed at improving efficiency and transparency, they also require timely action from citizens. Reviewing bank nominations, updating Aadhaar details, adjusting to new credit card fees, and meeting pension deadlines will be crucial for ensuring uninterrupted financial operations.
As the new month begins, experts advise citizens to stay alert to these changes to prevent financial disruption and make informed decisions regarding their savings and payments. Small steps — such as verifying nominee details or completing biometric updates — can save significant hassle in the long run.
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