Banking To GST Registration: Key Financial Changes Coming Into Effect From November 2025

Several financial institutions, including banks, will be implementing key changes in rules from November 1 that will impact individuals and businesses. These important changes pertain to banking services, Aadhaar updates, credit cards and GST registration, among others. Keeping track of the new rules could be helpful in effective money management and seamless business operations. Here's a look at important regulatory changes set to come into effect from Nov. 1:

As per the revised guidelines, customers will be allowed to nominate up to four nominees for their bank accounts, fixed deposits (FDs), lockers and safe custody articles. The initiative is a part of the government’s efforts to offer bank customers more flexibility and control over their money.

The government has also mandated banks to simplify the nomination process under the new rules introduced as per the provisions of the Banking Laws (Amendment) Act, 2025. The new rules will help in reducing disputes and delays in settlements.

Personal details for Aadhaar cards can be updated online without supporting documents. All Aadhaar cardholders can now update their name, address, date of birth and mobile number online without uploading any documents. Only for the biometric updates like fingerprints or iris scans, Aadhaar cardholders will be required to visit the nearest Aadhaar centre from Nov. 1, while other updates can be made online.

Starting November, Rs 75 will be charged for updates to names, address, date of birth and mobile number. On the other hand, biometric changes will attract a fee of Rs 125.

SBI Card has announced a revision in its fee structure and other charges, which will kick in from Nov. 1.  

A 1% fee will be applicable on all transactions using SBI credit cards for education payments through third-party payment apps. For every wallet load transaction exceeding Rs 1,000, a 1% fee will be charged.

Retired Central and state government employees are required to submit their annual life certificate in November in order to continue receiving pension. Pensioners can file their life certificates by Nov. 30.

For Central government employees, the deadline to switch from the National Pension System (NPS) to the Unified Pension Scheme (UPS) has also been extended to Nov. 30.

A new Goods and Services Tax (GST) registration system will come into effect from Nov. 1. The new GST registration system is aimed at easing the registration process for small businesses and public sector entities.