Overview
- From November 1, sections 10–13 of the Banking Laws (Amendment) Act take effect, allowing up to four nominees for bank deposits, with lockers limited to successive nominations.
- SBI Card starts a 1% fee on education payments routed via third‑party platforms such as CRED, Cheq and MobiKwik from November 1, while direct payments to institutions remain exempt.
- Wallet reloads above Rs 1,000 under specified merchant categories will also attract a 1% charge on SBI Card beginning November 1.
- The Finance Ministry has extended the window to switch from NPS to the Unified Pension Scheme until November 30, and government pensioners must submit life certificates between November 1 and 30 (80+ could file from October 1).
- Other shifts reported for November include simplified online Aadhaar edits and a new GST registration process from November 1, with PNB’s reduced locker rents becoming effective about 30 days after its October 16 announcement.