Beginning November 1, 2025, key financial rule changes in India will affect daily transactions for millions. New GST slabs will simplify taxation, lowering rates on essentials and increasing them on luxury goods. Aadhaar biometric updates for children will be free for a year, while adults will pay nominal fees for demographic and biometric updates.

Banks will allow customers to name up to four nominees per account or locker with options to specify shares and succession orders. SBI cardholders face new transaction fees on education-related payments and wallet recharges. Pensioners must submit annual life certificates by month-end to avoid payment disruptions. These reforms aim to streamline financial processes, improve transparency, and protect citizen interests.

​Key Financial Changes Starting November 1

Here are five major financial changes coming into effect from November 1, 2025, each described under a separate subheading:

1. Simplified GST Slabs

India’s GST system has been rationalised from four previous slabs (5%, 12%, 18%, 28%) to two main slabs, 5% and 18%, for most goods and services. Additionally, a 40% “demerit” rate is imposed on luxury and sin goods like tobacco and pan masala. This reform aims to reduce the tax burden on essentials, simplify compliance, and boost economic growth. It is part of broader GST 2.0 reforms designed to create a more transparent and growth-oriented indirect tax system.​

2. Aadhaar Update Charges Revised

UIDAI has waived the Rs 125 charge for mandatory biometric updates (MBU) of Aadhaar for children until October 2026, encouraging complete and accurate enrolment. Adults will continue paying Rs 75 for updating demographic details like name, address, or date of birth, and Rs 125 for biometric changes such as fingerprints or iris scans. Updates on demographic information can now also be made online without submitting supporting documents.​

3. New Bank Nomination Rules

Bank account holders can now name up to four nominees simultaneously for accounts, lockers, or safe custody items. They can specify the percentage share of entitlement for each nominee and choose “successive nomination,” where the next nominee becomes operative only after the death of the prior nominee. Banks must inform customers of the nomination facility, but customers are free to opt out of nominating anyone without restrictions.​

4. SBI Cardholders New Transaction Fees

From November 1, SBI Card users will be charged a 1% fee on education-related payments made via third-party apps like MobiKwik and CRED. Additionally, loading amounts exceeding Rs 1,000 into digital wallets using an SBI Card will attract a 1% fee. These fees are aimed at improving transaction transparency and cost recovery for card issuers.​

5. Pensioners Must Submit Life Certificates

Retired central and state government employees are required to submit their annual Life Certificate by the end of November to continue receiving pension payments. Life Certificates can be submitted either physically at bank branches or digitally via the Jeevan Pramaan portal. Failure to submit certificates on time may result in delays or stoppages of pension disbursal.

The Logical Indian’s Perspective

These financial reforms illustrate thoughtful governance balancing simplification, citizen convenience, and fiscal responsibility. By refining tax slabs, facilitating Aadhaar updates, and improving banking practices, authorities empower individuals and businesses with efficient tools and protections. However, communication and digital literacy must accompany these changes to ensure inclusiveness.