Rules Change: Rules for bank account, Aadhaar, pension and GST have changed, know what will be the impact on your pocket..

A new month has begun today. November also brings with it some changes. Several important financial regulations have come into effect across the country. These changes will impact your bank account, pension, Aadhaar card, taxes, and everyday transactions. Experts say these changes aim to secure digital transactions, simplify the pension system, and increase financial transparency. Let's explore what has changed and how it will impact the common man.

The rules for updating Aadhaar cards have changed starting today. Starting November 1st, UIDAI has waived the ₹125 biometric fee for children's Aadhaar card updates for one year. Children aged 5 to 15 will now be free to update their Aadhaar biometric information. However, adults will incur additional costs for updating their Aadhaar. ₹75 will be charged for changing their name, address, or mobile number, and ₹125 for fingerprint/iris scan updates. You can now update your Aadhaar without any documents, making the process much easier.

New Bank Nomination Rules Implemented

Banking nomination rules have changed, providing significant relief to customers. Bank customers can now nominate up to four people instead of just one for a single account, locker, or safe custody item. Customers can also specify the share of their assets they wish to assign to each nominee, making it easier for their family to access funds in an emergency and preventing ownership disputes. Furthermore, the process for adding, changing, or removing a nominee has now been completely digitalized and simplified.

GST Slabs Reduced
As per the decision of the GST Council, a new tax structure came into effect from November 1. Previously, there were four rates: 5%, 12%, 18%, and 28%. However, the 12% and 28% slabs have now been eliminated. In place of these, the government has implemented a new special GST slab of 40% on luxury and harmful products. This will affect automobiles, alcohol, tobacco, expensive gadgets, and some imported products. The 5% and 18% GST rates will continue on low-priced essential goods.

New Deadline for UPS Scheme
The central government has extended the deadline for employees to join the Unified Pension Scheme (UPS) to November 30, 2025. Previously, this deadline was September 30. Employees currently enrolled in the NPS (National Pension System) can transfer their accounts to the new UPS scheme if they wish. UPS, launched in April this year, provides guaranteed pension returns.

Life Certificate Required for Pensioners
All retired central and state government employees are required to submit their annual life certificate by the end of November. Submission of life certificates has been made mandatory for all pensioners from November 1 to November 30. If this certificate is not submitted on time, pensions may be suspended starting in December. Life certificates can be submitted by visiting a bank branch or digitally through the 'Jeevan Pramaan' portal.

Changes in Bank Locker Charges
Punjab National Bank (PNB) has revised its locker charge structure effective November 1st. Locker charges will now be determined based on the size and location category. The bank will soon issue a notification, which will be effective 30 days from the date of issuance. According to banking experts, locker fees in metro cities could increase by 10–15%.

1% Additional Fee on SBI Credit Cards
The country's largest bank, State Bank of India, has implemented new fees for its credit card users. Customers paying educational institution fees through third-party apps (such as Mobikwik, Cred, or the school's dedicated portal) will now incur an additional 1% fee. Apart from this, if customers load an amount more than ₹1000 in their wallet, then 1% processing charge will have to be paid on that also.

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