India
oi-Swastika Sruti
Some financial and regulatory reforms are expected to come into force throughout India from November 1, 2026. These reforms will affect firms, bank account holders, mobile phone users, retirees, and mutual funds investors.
India introduces financial and regulatory changes from November 1, 2026, including GST registration at co-working spaces, Caller Name Display, PNB credit card fees, default direct mutual funds, and pensioner life certificate submissions, alongside revised prices for 137 cancer drugs from November 9.
These reforms comprise the new regulations on GST registration for firms using co-working spaces, launching of the service of Caller Name Display, changes in the fees charged for selected Punjab National Bank credit card purchases, and new options in mutual funds investments.
Retirees will also need to go through their annual process of completing the Life Certificate process, and early redemption facilities for holders of Sovereign Gold Bonds will be available in November. Also, revised prices of 137 cancer medications are expected to take effect from November 9.
1. GST Registration Now Possible At Co-Working Space Addresses
The firms working from co-working offices would be allowed to get GST registration using their workplace address from November 1 onwards.
As per the new procedure, the applicant needs to submit the documents proving that he or she has permission to work from the co-working office. These documents include copies of the membership contract/other related documents along with the ID proof of the co-working office member containing the address.
The applicant may also need to submit other supporting documents in case the address of the place needs to be verified. The other documents may be power bills or property taxes.
The objective behind the new procedure is to facilitate the GST registration process for the businesses which don’t have the office. Physical verification of the address would not be needed unless there are doubts about the authenticity of the application.
2. Caller Name Will Appear On Mobile Screens
The mobile phone users would be able to recognize the callers who may not be saved in their contact list thanks to the telecom operators introducing the CNAP facility.
Here, the name related to the mobile phone number of the caller will show up on the screen of the recipient of the call.
For instance, when a person makes a call to someone he doesn’t know, the name of the caller would show up on his/her screen, instead of just the mobile phone number.
This service will benefit the users as they would be able to recognize the calls that they should not get and avoid being scammed by such calls.
The name shown will be based on the subscriber details maintained by the telecom operator. The name shown may not necessarily be the name of the caller in his/her personal capacity.
The current implementation will focus on the devices that are 4G/5G compatible.
3. Government Pensioners Must Submit Life Certificate In November
Government pensioners below the age of 80 will have to submit their annual life certificate between November 1 and November 30.
The certificate is necessary to confirm that the pension beneficiary is alive and remains eligible to receive pension payments.
Pensioners aged 80 and above have a longer submission window, which began on October 1.
There are two main ways to submit the certificate:
Physical submission: Pensioners can visit their pension-disbursing bank branch and submit the life certificate.
Digital submission: They can use the Jeevan Pramaan facility, which allows digital life certificate submission through Aadhaar-based authentication and face verification.
The digital option can help elderly pensioners avoid repeated visits to banks. Pensioners should ensure that their life certificate is submitted within the applicable deadline to prevent disruption in pension payments.
4. PNB Introduces Charges On High-Value Utility Bill Payments
Punjab National Bank (PNB) is introducing a charge on certain high-value utility bill payments made using its credit cards from November 1.
Under the revised rules, transactions involving utility bill payments above ₹50,000 will attract a fee of 1% of the transaction amount, subject to a maximum charge of ₹2,000 per transaction.
Utility payments include bills for electricity, water, telephone and internet services.
Previously, PNB credit cardholders could make such payments without this additional charge. The revised fee will therefore affect customers who regularly use their credit cards to pay large household or business utility bills.
Customers should check the applicable credit card terms before making high-value payments to avoid unexpected charges.
5. Direct Mutual Fund Plans To Become The Default Online Option
Investors using the digital platforms of asset management companies (AMCs) will see a change in the way mutual fund plans are presented from November 1.
Direct plans will become the default option on these platforms. Investors who select regular plans will be informed that these plans carry a higher expense ratio.
The difference between the two options is important:
Direct plans: Investors purchase mutual fund units directly from the fund house without involving a distributor. As a result, these plans generally have lower expense ratios.
Regular plans: These investments are made through distributors or intermediaries, whose commission is included in the fund’s expenses. This generally results in a higher expense ratio.
The change is intended to make investors more aware of the costs associated with their investment choices.
However, investors should remember that a lower expense ratio does not automatically mean better returns. They should consider their financial goals, investment needs and the assistance they may require before choosing a plan.
6. Sovereign Gold Bond Investors Can Opt For Early Redemption
Sovereign Gold Bond (SGB) investors will get an opportunity to withdraw their investments before the end of the full maturity period in November.
The early redemption facility will be available for four SGB series on the following dates:
| SGB series | Early redemption date |
| 2020-21 Series VII | November 2, 2026 |
| 2020-21 Series VIII | November 18, 2026 |
| 2020-21 Series II | November 19, 2026 |
| 2021-22 Series I | November 25, 2026 |
Sovereign Gold Bonds are government securities whose value is linked to the price of gold. They have a standard maturity period of eight years, but investors can seek early redemption after the fifth year on specified interest payment dates.
The redemption amount is calculated using the applicable average closing price of gold, as per the RBI’s rules.
Investors holding these bonds should check the relevant series and redemption schedule before making a decision.
7. Prices Of 137 Cancer Medicines To Be Revised From November 9
Patients undergoing cancer treatment may get some relief as the government has taken steps to reduce the prices of several anticancer medicines.
The National Pharmaceutical Pricing Authority (NPPA) has capped the trade margin on 137 non-scheduled anticancer drugs at a maximum of 30%.
Under this decision, the retail prices of affected medicines are expected to come down, with reductions of up to 70% possible in certain cases, depending on their existing pricing structure.
The revised prices are scheduled to become effective from November 9.
Patients and their families will be able to check the updated medicine prices through the NPPA website and the Pharma Sahi Daam mobile application.
The move is aimed at making cancer treatment more affordable by limiting the margins charged across the medicine supply chain.
However, the actual price reduction will differ from one medicine to another. Patients should check the revised price of their prescribed drug rather than assume that every anticancer medicine will become 70% cheaper.
