Mumbai, October 30: Starting November 1, 2025, several key rule changes will come into force across banking, Aadhaar, pensions, and taxation systems, impacting how millions of Indians manage their money and government-linked services. The new regulations, issued by UIDAI, RBI, and the Income Tax Department, aim to improve transparency, simplify procedures, and make services more secure and accessible.

One of the biggest updates comes from the banking sector,Ā where customers can now nominate up to four individuals for a single account, locker, or safe custody item. In addition, KYC verification has been made more flexible, allowing users to complete it via Aadhaar OTP, video KYC, or in-person verification, eliminating much of the paperwork.Ā Stock Market Holidays in November 2025: NSE and BSE To Remain Closed for 11 Days; Check List of Share Market Holiday Dates.

Rules Changing From November 1, 2025:

Banking Changes

  • Multiple Nominations: From November 1, banks will allow customers to nominate up to four individuals for their bank accounts, lockers, and safe custody items.Ā 

  • Simplified Nomination Process: Banks will also introduce a streamlined nomination process to reduce disputes and delays during settlements, ensuring smoother claim procedures for legal heirs.

SBI Card Changes

Aadhaar Card Updates

  • Online Updates: Aadhaar holders can now update details such as name, address, date of birth, and mobile number online without uploading supporting documents.

  • Biometric Updates: From November, physical visits will only be required for biometric updates like fingerprints or iris scans, making the process more convenient.

  • Revised Charges: Update fees have been revised to INRĀ  75 for demographic changes (name, address, DOB, or mobile number) and INR 125 for biometric updates.

Pension Changes

  • Life Certificate Submission: Central and state government pensioners must submit their annual life certificate between November 1 and November 30 to ensure uninterrupted pension payments.

  • NPS to UPS Switch: The deadline to switch from the National Pension System (NPS) to the Unified Pension Scheme (UPS) has been extended to November 30, 2025.

GST Changes

  • Simplified GST Registration: A new GST registration system will make the process easier for small businesses and public sector units, cutting down paperwork and processing time.

  • Simplified GST Slabs: The country will move to two main GST slabs,Ā 5% and 18%, replacing the earlier four-tier system.

  • Luxury and Sin Goods: A 40% GST rate will be imposed on luxury and sin goods, such as high-end cars, tobacco, and alcohol, to streamline the tax structure while maintaining revenue balance.

The Unique Identification Authority of India (UIDAI) has also rolled out new Aadhaar update and fee guidelines, revising charges for demographic updates such as name, address, or mobile number. Meanwhile, the government has reiterated that Aadhaar-PAN linking is mandatory by December 31, 2025, with unlinked PANs becoming inactive from January 1, 2026.

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(The above story first appeared on LatestLY on Oct 30, 2025 02:54 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).