Financial & Compliance Navigator – November 2025

1.RBI Issues New Bank Locker Rules 2025:

List of Items/Things Not Allowed in Bank Lockers :

As per the revised bank locker guidelines, the following items are strictly prohibited from being stored in bank lockers:

• Cash and currency
• Arms and weapons•
• Drugs and narcotics
• Explosives and contraband materials
• Perishable or radioactive items
• Hazardous or illegal substances

You also cannot store any material that creates a nuisance to the customers or bank.

The bank is responsible when a loss occurs due to the bank’s shortcomings, an act of commission/omission or negligence. In addition, banks are responsible for any of their employee’s fraudulent activities.

In such scenarios, the bank is liable to pay an amount equivalent to one hundred times the existing locker’s annual rent.

2.Premature redemption price set for Sovereign Gold Bond (SGB)-2018-19 Series I

The RBI has announced that holders of the SGB 2018-19 Series I can redeem early, at a price of ₹12,039 per gram (as of 4 Nov 2025).

• If you hold these bonds, this is an actionable update: you may consider whether to redeem now or continue holding given gold price movements.
• For new investors, it signals the RBI’s active management of sovereign bond issues and the secondary implications for gold-linked assets.

3.Effective GST Updates for MSMEs – November 2025

• Automated Registration (from Nov 1): AI-based system enables GSTIN in 3 days for low-risk MSMEs.
• New B2B Category: Easier registration for small suppliers (Rule 14A).
• Final Deadline: File old pending GST returns (over 3 years) by Nov 30, 2025 — blocked after Dec 1.
• Monthly Due Dates:
  • GSTR-1: Nov 11 | GSTR-3B: Nov 20
  • QRMP IFF: Nov 13 | PMT-06: Nov 25
  • Annual Returns (FY 24–25): Dec 31

Rate Simplification: Two slabs — 5% (essentials), 18% (others); correct HSN codes mandatory

4.Specialty Steel PLI Scheme

• Government launched 3rd round of Specialty Steel PLI (PLI 1.2) with major relaxations for MSMEs.
• Investment & capacity thresholds reduced → easier for small units to participate.
• Flexible incentives: No need to meet full production targets; incentive paid on actual production.
• Base year updated to 2024-25 (earlier 2019-20) → benefits aligned with current prices.
• Scheme covers 22 specialty steel categories with 4%–15% incentives for 5 years.
• Aim: Boost MSME participation, reduce steel imports, and support sectors like defense, aerospace, power, infrastructure.

5.Summary of Extended Due Dates for FY 2024-25 (AY 2025-26)

Important Note:

The tax audit report must be filed before or on the due date for filing the ITR. The system requires the audit report to be uploaded and accepted by the taxpayer before the ITR can
be filed correctly.