New Delhi: The new month, November 2025, is bringing several significant changes to your financial life. From November 1st, several new rules related to banking, GST, pensions, and card transactions will come into effect, which could directly impact your finances. Let’s learn about these changes in detail
Major Improvement in Bank Nomination Process
The Ministry of Finance has changed the nomination system for bank accounts. Now, up to four people can be nominated for a single bank account.
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You will be able to determine the percentage share for each nominee yourself. Additionally, a successive nominee option has been added, if the first nominee is unavailable, the second nominee will automatically become active.
Banks will clearly explain this option to customers, although it will not be mandatory.
New Charges for SBI Card Holders
SBI Card has introduced a new charge on educational transactions and wallet loading. If you pay education fees through apps like CRED or MobiKwik, you will now have to pay an additional 1% charge.
Also, if you load more than ₹1,000 into your wallet, a 1% processing fee will apply. This will slightly increase the expenses for those who make digital transactions.
PNB Locker Rent to Become Cheaper
Punjab National Bank (PNB) has given good news to its customers. The bank has announced a reduction in locker rent. The new rates will be determined based on the size and category of the locker and will be released on the website in November.
This change will be implemented 30 days after the notification.
Relief in Aadhaar Update Rules
UIDAI has simplified the Aadhaar-related process. Now, biometric updates for children will be free for one year. For adults, the fee for updating name, address, or date of birth will be ₹75, while biometric changes (fingerprint/iris) will cost ₹125.
You will now also be able to update online without uploading any documents.
Important Alert for Pensioners
Government pensioners must submit their Life Certificate (Jeevan Pramaan Patra) by the end of November. If this is not done, the pension will be stopped or delayed. Those who wish to shift from NPS to UPS (Unified Pension Scheme) must also apply by the end of November 2025.
Major Change in GST System
The Ministry of Finance has announced the implementation of new GST slabs from November 1st. The 12% and 28% slabs will be eliminated, leaving only two main slabs.
A special tax slab of 40% will be applied to luxury and “sin goods” (such as alcohol, tobacco, and luxury cars). This change will affect both businesses and consumers.
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November 2025 could prove to be a very important month for you financially. From bank nominations to card charges, Aadhaar updates, and tax rules, every change will affect your savings and spending plans.
If you understand these rules in time and prepare accordingly, you will benefit greatly in the coming month.