Several financial changes are coming into effect in India from November 1, 2026. These updates will affect credit card users, savings account holders, pensioners and certain businesses. Here are the important changes people should know before the new month begins.
1. PNB Revises Credit Card Charges
PNB revises charges on selected credit cards from Nov 1 for Visa & RuPay cards.
Cash withdrawal: At PNB ATMs within India 2.5% of withdrawal amount or Rs. 400. At other domestic ATMs, it will be 2.5% or ₹500, whichever is higher.
Late payment fee The maximum late payment charge will increase to ₹1,200 for outstanding dues above ₹50,000.
Utility bill payments: A 1% fee will apply if total utility payments exceed ₹50,000 in a billing cycle, subject to a maximum charge of ₹2,000 per transaction.
These changes apply to the specified PNB credit card variants. Cardholders should check the bank's latest schedule of charges.
2. IndusInd Bank Introduces Charges on Failed Transactions
IndusInd Bank will introduce charges on certain failed transactions for selected savings account categories from November 1.
Customers holding eligible accounts may face:
- ₹25 for a POS transaction declined due to insufficient balance.
- ₹25 for a failed IndusInd ATM transaction due to insufficient funds.
- ₹50 for a cheque returned for reasons other than insufficient funds.
GST will be charged separately. These transactions were previously free under the applicable categories.
3. Pensioners Can Submit Life Certificates
Government pensioners below 80 years of age can submit their annual life certificates between November 1 and November 30, 2026.They can submit the certificate at their pension disbursing bank branch or use the digital Jeevan Pramaan facility through Aadhaar based authentication and face authentication.
Pensioners aged 80 and above have a separate submission window that started on October 1.
4. GST Rules Change from November 1
Certain provisions of the Central Goods and Services Tax Act will change from November 1.
The amendments cover post-sale discounts, credit notes and GST refunds. Businesses will need to follow revised conditions for excluding eligible post-sale discounts from taxable value. The changes also address provisional refunds for businesses facing inverted duty structures.
These provisions are mainly relevant to businesses and GST-registered taxpayers rather than ordinary household shoppers.
5. Income tax return Filing Deadline Extended
The extension from October 31 to November 21, 2026 does applies only to those tax payers who fulfill specific conditions with regard to the submission of their audit reports. An extension of filing the ITRs does not apply to all individual tax payers.
What Should You Do Before November 1?
Credit card users should check their bank's revised charges, while IndusInd customers should maintain sufficient account balance to avoid failed transaction fees. Pensioners should complete their life certificate within the November window.
These updates don't affect every customer in the same way. First, check the official rules and notifications of the respective banks.
