India has finally implemented a range of significant financial regulatory changes, which took effect on November 1, 2025. The rules pertain to changes in regulations governing banking, credit card fees, pension standards, Aadhaar, and GST registration. The reasons for these changes are based on the goals of modernizing the country’s financial system, providing a more convenient and safe experience for users, straightforward inheritance and nomination rules, and compliance with fewer expenses.
Banking Nomination and Account Rules
Starting November 1, 2025, a pivotal amendment to nomination rules will be implemented following the enactment of the Banking Laws Amendment Act, 2025. Account owners can now designate up to four different people as nominees, who will be eligible for nomination in bank accounts, safety lockers, and safekeeping items. Additionally, the account holder will designate all nominees in all categories simultaneously or in the form of subsequent and residual nominees, thereby promoting a hassle-free nomination process and discouraging legal conflicts of interest. Furthermore, the process of updating nominations has been simplified for account holders, allowing them to amend their nominations with minimal effort.
SBI Credit Card Fee Revisions
The State Bank of India has announced that it will introduce a new 1% transaction fee for education-related third-party payments made through CRED, Cheq, and MobiKwik, effective November 2025. The additional fee also applies to wallet remittances to third-party platforms of up to India’s 1,000 limit. The changes assume that the digital payments scenario is under the bank’s watchful control to rule and administer.
Aadhaar Update Simplification
The Aadhaar process has been updated to offer more convenience. Non-biometric Aadhaar updates, including name, address, date of birth, and mobile number, can be performed online without the need to upload documents. A fee of ₹75 will be charged for non-biometric updates, while biometric updates still necessitate physical visits and a fee of ₹125.
Pension System Changes
The government has extended the deadline for conversion from the National Pension System to the Unified Pension Scheme to November 30, 2025. Submission of the Life Certificate for pensioners is required during the specified period, which is November 1-30 each year, to prevent disruption in pension disbursement.
Income Tax Slab Revision
The new financial year, starting April 2025, has introduced a revised tax slab regime with a relaxed basic exemption limit, increased to ₹4 lakh. Certain tax slabs for individual taxpayers have been removed or revised to simplify the tax structure and increase disposable income, supporting higher spending capacity.
GST and Small Business Impact
The financial year beginning in April 2025 is embracing a revamped tax slab regime with an elevated basic exemption limit of ₹4 lakh, as specified in the table attached in the Annexure section. Certain translated units for personal taxpayers have been eliminated or reduced to maintain a well-defined tax structure and allocate additional earnings for spending purposes.
Overall Impact
Overall, the extensive set of changes highlights the government’s commitment to enhancing financial inclusion, digital payment governance, making pension systems more responsive, and simplifying taxation. To be prepared for the changes, stakeholders, including bank customers, pensioners, credit cardholders, and small businesses, should actively explore the new regulations and ensure they make all necessary modifications promptly to facilitate quick adjustment and optimal benefits.
Ultimately, this wave of regulation will become an essential step in facilitating user access, enhancing compliance strength, and driving service modernization in the increasingly prominent digital economy.