Summary of this article
New financial changes are going to be implemented from November.
Revised rates for SBI Card and PNB Locker fee.
Extended deadlines for UPS and Jeevan Pramaan Patra.
As November is about to roll in, new financial changes are being introduced that will impact bank customers, credit card holders, and central government employees. These include amendments in nomination rules, revised SBI Card fees, and extended deadlines.
These changes ensure that consumers have an easy and smooth experience while also ensuring that bank functions are not disturbed. These changes will impact bank customers, credit cardholders, and even central government employees. Here are some changes in schemes and policies that you need to know!
Multiple Nominations for Bank Accounts
As of November 1, 2025, banks will roll out new nomination rules for deposit accounts, safety lockers, and assets in safe custody. The Finance Ministry has confirmed that the provisions for deposit accounts, safety lockers and assets now extend to multiple nominations.
These new rules have been implemented to give depositors flexibility and clarity in choosing nominees. From the revised framework, customers can now nominate up to four individuals. For deposit accounts, simultaneous and successive nominations are available. Only a successive nomination is allowed for items held in lockers.
SBI Card
With a revision in its fee structure and other charges, SBI Card has announced these changes will come into effect from November 1, 2025. There will be a 1 per cent charge on transactions, applicable on education payments made through third party apps like CRED, Cheq, and MobiKwik. As a clarification, the bank has said that payments made directly to schools, colleges, or universities will not have to bear this cost.
In addition, the SBI Card says that 1 per cent of the transaction amount will be charged to every wallet load transaction exceeding Rs 1,000.
PNB Locker Charges
Punjab National Bank (PNB) released a notice on October 16, 2025, lowering locker rent charges for different locker categories. These new rates will come into effect 30 days after the notice is released. The rates have been reduced across all regions and locker sizes.
Jeevan Pramaan Patra Submission
State and Central government pensioners are required to submit their Jeevan Pramaan Patra by November 30, 2025 to ensure uninterrupted flow of their monthly pensions. This yearly process acts as proof that the pensioner is alive and eligible for pension payments.
UPS Deadline
The last date to switch from the National Pension Scheme (NPS) to the Unified Pension Scheme (UPS) has been extended to November 30, 2025. This deadline is applicable to eligible existing employees, past retirees, and legally wedded spouses of deceased who were covered under the NPS.
