Major Financial and Regulatory Changes Effective November 1, 2025
Several significant financial and regulatory changes came into effect across India from November 1, 2025, impacting various aspects of daily life and financial transactions. Key among these is the mandatory linking of Aadhaar with PAN cards, which must be completed by December 31, 2025, to avoid invalidation of PAN cards from January 1, 2026. New PAN applicants will also undergo Aadhaar verification.
Banking regulations have been revised to allow account holders to nominate up to four individuals per account, locker, or safe custody item, with specific shares for nominees, aiming to simplify fund access and reduce ownership disputes. SBI Cardholders will now face a 1% fee on education-related payments made through third-party apps and wallet top-ups exceeding ₹1,000. Punjab National Bank (PNB) has also reduced locker rent charges across various categories, with new rates to be implemented 30 days after notification.
The Goods and Services Tax (GST) system has been simplified, replacing the four-slab structure (5%, 12%, 18%, 28%) with two main slabs and a 40% rate for luxury and sin goods. The Unique Identification Authority of India (UIDAI) has updated Aadhaar card charges; non-biometric updates like name, address, or mobile number can now be done online for ₹75, while biometric updates cost ₹125. For children, biometric updates for Aadhaar cards remain free for one year.
Pensioners, both central and state government employees, are required to submit their annual Life Certificates by the end of November to ensure continued pension payments. Additionally, the deadline for central government employees to switch from the National Pension System (NPS) to the Unified Pension Scheme (UPS) has been extended to November 30. The Reserve Bank of India (RBI) also mandated banks to move their net banking website addresses to the exclusive '.bank.in' domain by October 31, 2025, a move already completed by major banks like SBI, PNB, and Canara Bank to enhance cybersecurity.
ISRO Set for Heaviest Communication Satellite Launch
The Indian Space Research Organisation (ISRO) is prepared to launch its heaviest communication satellite, CMS-03, on November 2, 2025. The 24-hour countdown for the launch of the over 4,000 kg satellite commenced on Saturday, November 1, 2025. Weighing approximately 4,410 kg, CMS-03 will be the heaviest satellite launched from Indian soil into a Geosynchronous Transfer Orbit (GTO). The spacecraft will be carried by an LVM3-M5 rocket, often referred to as 'Bahubali' due to its heavy-lift capabilities. The launch is scheduled for 5:26 p.m..
PM Modi Inaugurates Development Projects in Chhattisgarh
Prime Minister Narendra Modi inaugurated development projects worth ₹14,260 crore in Chhattisgarh on November 1, 2025. These projects include a natural gas pipeline connecting 11 districts to the National Gas Grid, two Smart Industrial Areas, nine new power substations, and a four-lane Greenfield Highway under the Bharatmala Pariyojana. The Prime Minister emphasized India's role as a first responder during global crises and reiterated his government's focus on national development through state-level growth.
Tragic Temple Stampede in Andhra Pradesh
A tragic incident occurred at the Sri Venkateswara Swamy temple in Kasibugga town, Srikakulam district, Andhra Pradesh, where at least nine people, including a boy, died in a stampede on November 1, 2025. The incident reportedly happened when an iron railing was damaged, causing people to fall from a six-feet-high wall while attempting to escape a rush. A case has been registered against the temple owner. This incident contributes to a grim statistic, with stampedes claiming at least 114 lives in India so far this year, marking the second-highest toll in recent years.
Kerala Declared Free from Extreme Poverty
In a significant achievement, Kerala Chief Minister Pinarayi Vijayan declared the state free from extreme poverty at a special session of the Assembly on November 1, 2025, coinciding with 'Kerala Piravi'. This makes Kerala the first Indian state to make such a declaration, following the implementation of the Extreme Poverty Alleviation Project (EPEP) initiated in 2021.
Other Notable News
In sports, two-time Grand Slam champion Rohan Bopanna announced his retirement from professional tennis after a career spanning over two decades. Also, Indian Oil Mumbai secured the 42nd Indian Oil Servo Surjit Hockey Trophy for the third consecutive year. A trial run for the Census self-enumeration module for the Population Census 2027 is set to begin in select areas, marking India's first digital Census and the first to enumerate caste in independent India. The issue of deepfakes and their risks of misinformation and fraud was also highlighted as a growing concern.