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Banking Rules Change 1st November: Many bank-related rules are changing from November 1st. Every bank account holder must understand these rules to avoid any problems later. Major changes are coming from November 1st, which will have a significant impact on everyday life. This includes changes related to nominees in bank accounts and lockers. Under this, bank customers can now specify not just one but four nominees. Some rules related to Aadhaar cards, credit cards, and mutual funds have also changed. Let's learn more about these new rules...

Bank Nominee Rules Changes
Major changes to the Banking Act will come into effect from November 1st, 2025. Under this, new rules related to nomination will be implemented as per the Banking Law Amendment Act 2025. This allows bank customers to nominate not just one but four people. Bank customers can also specify the share of property they wish to give to each nominee. This nominee rule will also apply to FDs, RDs, and other types of deposits. This can be done for both single and joint accounts.

Easy Aadhaar Card Updating
UIDAI has simplified the process of updating Aadhaar cards. Aadhaar card holders will no longer need to visit an Aadhaar center to update information such as name, address, date of birth, and mobile number. The entire process will be completed online. A visit to the center will only be required for biometric fingerprint or iris scans. UIDAI will automatically verify your data with databases such as PAN card, passport, ration card, and MNREGA. There will be no need to upload documents.

New Rules for Bank Lockers
Bank locker and safe custody rules have also changed. Account holders will be able to list nominees in order. This will reduce disputes regarding property transfer and facilitate easier transfer. If the first nominee is no longer alive, the second nominee will have the right to claim the title.

SBI Credit Card Rules
SBI credit card charges are changing from November 1st. Unsecured cards will be charged 3.75%. Payments such as school fees through third-party apps like CRED or Mobikwik will incur an additional 1% charge. Loading wallets with more than 1,000 will incur a 1% charge, and a fee of ₹200 will be charged for check payments using the card.

New Mutual Fund Rules
The market regulator (SEBI) has implemented new rules for mutual fund investments. If an officer, employee, or family member of an asset management company (AMC) makes a payment of more than ₹1.5 million, the company must report this information to the compliance officer.

Changes in LPG, CNG, and PNG rates are also expected to change from November 1st. If petroleum companies decide to change these rates during regular reviews, they announce it on the first of every month.

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