Major Financial Changes from 1 November 2025: New Bank Nomination Rules, Aadhaar Update Process, SBI Card Fees, and GST Reforms

Starting in November 2025, several new financial rules will be implemented that directly target bank customers, pensioners, Aadhaar users, and taxpayers in the country. These changes are enacted to make financial processes easier, more transparent, and convenient.

Bank Nomination Rules Simplified

From November 1, 2025, banks will permit up to four nominees on savings accounts, lockers, and safe custody items. Those customers are now empowered to define distribution percentages or succession orders to ensure that inheritance claims are processed more smoothly and minimize litigation.

SBI Credit Card Fee Revisions

SBI credit cardholders will now have to pay a 1% transaction fee if they make education-related payments through third-party apps, such as CRED and Cheq. Similarly, wallet reloads above ₹1,000 will attract a 1% fee. However, direct payments made through official institutional portals or by using POS machines remain free of cost.

Aadhaar Update Process Made Easier

The UIDAI has relaxed the process of updating Aadhaar details and allows name change, address change, or mobile number addition/ updation online without uploading documents. Biometric updates require a physical visit at ₹125, whereas non-biometric edits cost ₹75. Biometric updates for children are free for one year.

Pension and GST System Updates

Pensioners are required to submit the Life Certificate before November 30 for continuity of benefits. On the other hand, the GST system has introduced processes for easier registration and revised tax slabs for better compliance and ease of doing business.