Hyderabad: Major changes in Aadhaar and banking rules will start from November 1. The Central Government and Reserve Bank of India (RBI) introduced new systems to simplify Aadhaar updates, expand banking options, and revise payment fees.
Aadhaar and banking rules bring digital upgrades
Earlier, Aadhaar holders waited for hours at centres to update their name, address, or mobile number. From November 1, people can update their details directly from home using a mobile phone.
Citizens will pay a ₹75 service fee for the online update. This step, therefore, reduces crowding at Aadhaar offices and speeds up the process. It also makes government services more accessible to rural users.
RBI allows four nominees per account
The RBI announced a major change for account holders. Customers can now nominate up to four people for bank accounts, lockers, and safe custody. Earlier, banks permitted only one nominee. The new rule, therefore, ensures smoother asset transfers and gives families greater flexibility.
SBI to charge 1% on large wallet recharges
Meanwhile, the State Bank of India (SBI) introduced a 1% fee on wallet recharges above ₹1,000 made through third-party apps. The charge covers education and utility payments and begins on November 1.
These reforms, consequently, strengthen both Aadhaar and banking systems. They also promote transparency, digital convenience, and faster service for millions of citizens.