Starting November 1, 2025, a series of new financial rules in India will come into effect, bringing changes that impact banking, Aadhaar, GST, credit cards, and pension systems. For Indian expatriates in Kuwait, these updates could affect how they manage Indian accounts, send money home, and make online transactions.

Streamlined Bank Nomination Rules

Amendments to India’s Banking Laws Act are simplifying the nomination process for bank accounts and lockers to prevent future disputes.

Account holders can now name up to four nominees, assign specific shares or percentages, and even set successive nominees.

NRI tip: Update nominations on your NRE/NRO accounts online or via email and retain a copy for your records to avoid legal complications later.

Aadhaar Update Reforms

The Unique Identification Authority of India (UIDAI) has revised the Aadhaar update process and fee structure. Biometric updates for children will be free for one year, while adults will pay ₹75 for demographic updates and ₹125 for biometric ones. Adults can now complete updates entirely online, without documentation.

NRI tip: Kuwait-based parents can update their children’s Aadhaar online. Adults should ensure Aadhaar-linked mobile numbers and addresses are current for UPI and banking access.

GST System Overhaul

India’s Goods and Services Tax (GST) regime is shifting from four slabs to two main rates plus a special 40% rate for luxury and sin goods. The 12% and 28% slabs have been scrapped to simplify taxation.

NRI tip: Expect higher prices on luxury goods and imports. NRIs shopping online in India or sending goods home should check new GST-inclusive prices.

Paytm UPI Access for Kuwait NRIs

In a major fintech update, Paytm UPI now supports Kuwait mobile numbers linked to NRE or NRO accounts. Users can download the Paytm app, verify with an SMS, link their account, set a UPI PIN, and start transferring money instantly.

Benefits:

• Instant transfers to family in India without forex fees.
• Seamless QR code payments and online shopping.
• Access to Paytm tools for expense tracking.

Paytm UPI is also available in 11 other countries including Saudi Arabia, Qatar, Oman, UAE, the UK, and the US.

Pension and Life Certificate Requirements

The National Pension System (NPS) to Unified Pension Scheme (UPS) migration deadline has been extended to November 30. Retired government employees must also submit life certificates by month-end to continue receiving pensions.

NRI tip: Use Indian banks’ digital pension platforms or coordinate through embassies to submit certificates online.

Credit Card Fee Adjustments

SBI Cards will impose a 1% fee on education payments made via apps like MobiKwik or CRED, and a similar fee for wallet recharges above ₹1,000.

NRI tip: Track fees closely if paying Indian bills or tuition through Indian credit cards from abroad.

Lower Locker Charges at PNB

Punjab National Bank (PNB) has announced a nationwide reduction in locker rent, effective 30 days after public notification.

NRI tip: If you hold a locker in India, check the updated rates through the PNB website.

Practical Steps for Kuwait NRIs

With these multiple reforms rolling out, experts advise Kuwait-based Indians to:

• Update Aadhaar and nomination details to stay compliant.
• Use Paytm UPI for faster and cheaper cross-border payments.
• Review GST impacts before shopping online.
• Submit pension documentation promptly.
• Monitor card and locker charges to avoid unexpected fees.

The Bottom Line

India’s November 2025 financial reforms aim to streamline systems, promote transparency, and expand digital access for NRIs. For Kuwait Indians, these changes present both opportunities and responsibilities — from easier payments and account management to maintaining compliance with new regulations.