New RBI Bank Rules Effective From 1st November: Key Updates

With the start of November 2025, there are some key money rules changes just around the corner that will directly have an impact on your pockets and finances. Here is a description of what can cost you more money starting from 1st November, along with some tips on how to save or invest for the future.

Key Changes to be Effective from November 2025

Here are the changes that are likely to have a direct impact on your pockets, including updates to GST (Goods and Services Tax) slabs, Aadhaar, the bank nomination process, card fees, pension requirements and more.

Key Changes in Bank Nomination Process:

Based on the information in a notification from the Union Ministry of Finance, the new updates to the Banking Laws Act are likely to come into effect from 1st November this financial year. The changes include-

The revised amendment permits individuals who hold an account in the bank to name up to four nominees at the same time. They are also allowed to specify their respective shares or percentages of entitlement to the account's assets.
The account holders have the option to choose successive nominees for their accounts. This arrangement allows for a structured line of succession, where the future nominee comes into effect only upon the death of the primary nominee.
Additionally, according to the RBI guidelines, banks must tell customers about the nomination facilityand give them the choice to use it. If a customer decides not to nominate anyone, the bank will open the account without any limitations.
RBI also added that if a nominee passes away(in case of simultaneous nomination) before receiving the deposit from the bank, their nomination will no longer be valid.

Must Read: RBI Repo Rate Cut 2025: Impact on Loans, Deposits & Markets

New FASTag Rules 2025

As of 1st November, 2025, there are two key updates regarding FASTag guidelines:

KYV Compliance Deadline

The NHAI- National Highways Authority of India has issued essential updates for FASTag users. Vehicle owners who have not completed the mandatory Know Your Vehicle (KYV) verification face possible deactivation of their tags. To ease compliance, NHAI has streamlined the process and provided a grace period, while banks continue sending alerts so users can complete the verification without service interruption.

New Toll Penalty Structure (Effective 15th November, 2025)

A new toll penalty structure will also take effect on 15th November 2025, not 1st November. Under this upcoming rule, if you cross a toll plaza without a valid or active FASTag, the charges will vary by payment method. Paying in cash will cost double the regular toll fee, while using UPI or other approved digital payment modes will incur a 1.25 times charge.

UIDAI Announced New Aadhaar Card Updates

In a significant relief for parents, the UIDAI (Unique Identification Authority of India) has renounced the Rs 125 fee for MBU (Mandatory Biometric Updates) of children's Aadhaar cards. The refusal, introduced in October, will remain in effect for a year.

For adults, Aadhaar updates will cost Rs 75 for changes to name, date of birth, address, or mobile number and Rs 125 for biometric updates like fingerprints or iris scans.

In a welcome digital push, people can now update their Aadhaar details, including address, name and date of birth, on their card. You can now do so online without uploading supporting documents.

Also Read: Recession in India: Is India Heading Towards One in 2025?

Availing Pension

Retired central and state government employees receiving a pension must submit their Life Certificate for the year by the end of November at the nearest bank branch to ensure uninterrupted pension disbursal. Missing the deadline could cause delays or suspension of payments.

Additionally, government employees planning to shift from the National Pension System (NPS) to the Unified Pension Scheme (UPS) should complete the switch before the month-end as well.

New GST Slabs are Coming Into Effect

The Finance Ministry has rolled out a simplified GST structure effective from 1st November 2025. The earlier four-slab system has now been replaced with two primary slabs plus a special rate. The 12% and 28% categories are scrapped, while a 40% tax rate will apply to luxury and so-called ‘sin goods.’ This marks a significant step toward a more streamlined taxation regime.

Punjab National Bank Locker Rent Cut Coming Soon

PNB (Punjab National Bank) has announced a forthcoming reduction in locker rent charges across its branches. The revised rates will be based on locker size and category, with official notifications expected later this month. Once announced, the new fees will come into effect 30 days after notification, according to reports in the Economic Times.

SBI Card Users Face New Fees on Wallet and Education Payments

Starting 1st November 2025, SBI Cardholders will see new transaction fees kicking in. Payments made for educational purposes through third-party apps like MobiKwik or CRED will attract a 1% charge. The same 1% fee will also apply to wallet load transactions exceeding Rs 1,000, according to a report by NDTV.

As these regulatory and financial changes take effect, November is shaping up to be a crucial month for consumers, investors and commuters alike. Staying informed could save both time and money.