India’s financial landscape saw multiple regulatory changes starting November 1. The government introduced a simplified two-slab GST system—removing the 12% and 28% rates, keeping 5% and 18%, and adding a special 40% for luxury items. Banks now allow up to four nominees per account, making inheritance easier. Punjab National Bank revised locker rental rates, while SBI Card fees also changed. Central and state government pensioners must submit their annual Life Certificate by November 30. The deadline to switch from NPS to the Unified Pension Scheme for government employees is now November 30. These collectively impact millions of bank customers, pensioners, and investors, with institutions urging people to update account and nomination details for smooth transactions.
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