Starting June 1, 2025, several important financial changes will take effect in India. These changes cover everything from provident fund access and bank fixed deposit (FD) interest rates to credit card charges and deadlines for Aadhaar updates. Whether you're a salaried individual, a taxpayer, or a credit card holder, these updates are likely to impact your finances and daily transactions. Here's everything you need to know.
The Employees’ Provident Fund Organisation (EPFO) is preparing to introduce its upgraded EPFO 3.0 platform. This new system aims to simplify the process of withdrawing provident fund amounts and accelerate the completion of KYC procedures. A major enhancement includes faster claim processing. Additionally, EPFO is considering launching EPF ATM cards, which would enable members to access their funds more conveniently and swiftly.
Taxpayers should keep in mind that June 15, 2025, is the last date to receive Form 16 and Form 16A, which are Tax Deducted at Source (TDS) certificates. These forms are crucial for filing income tax returns correctly and ensuring proper reconciliation. Receiving these documents on time helps avoid errors or delays when submitting your tax return.
The Securities and Exchange Board of India (SEBI) will implement new cut-off timings for overnight mutual fund schemes starting June 1, 2025. The new timings will be:
These changes aim to improve how client funds are managed and to make the pledging and transfer process smoother. Depending on the time of your transaction, the Net Asset Value (NAV) you receive could be affected.
If you need to update your Aadhaar card details, you can do it online for free until June 14, 2025. After this date, the charges will be:
This highlights the importance of keeping your personal records updated and accurate to avoid future issues.
Read More, Key Trends to Watch in June 2025: RBI MPC Meeting, Inflation Data and More.
Several banks are updating their credit card policies, and these changes will affect how customers earn rewards, access lounges, and pay certain fees.
Starting June 20, 2025, Axis Bank will change how points are earned on its REWARDS Credit Card. These changes will include updates to point accrual rules and which merchant categories that are eligible. Cardholders may need to adjust their spending habits to maximise benefits.
From June 10, 2025, HDFC Bank will revise its lounge access feature for Tata Neu Infinity and Tata Neu Plus credit cards. Lounge access will now be given through vouchers, based on how much the cardholder spends each quarter. This replaces the current method of direct card swipes, encouraging users to spend more to unlock this benefit.
Kotak Mahindra Bank will introduce a revised fee structure for its credit cards starting June 1, 2025. New charges will be applied for:
These changes may influence how cardholders manage their payments and spending.
These upcoming changes, effective from June 1, 2025, reflect major shifts in India’s financial system. From easier access to EPF funds and changes in mutual fund cut-off timings to new rules on credit cards and fixed deposits, these updates affect both long-term planning and day-to-day money management. Staying informed and adjusting your strategies accordingly will help you navigate these changes smoothly and make better financial decisions.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: May 30, 2025, 12:59 PM IST
Kusum Kumari
Kusum Kumari is a Content Writer with 4 years of experience in simplifying financial market concepts. Currently crafting insightful content at Angel One, She specialise in breaking down complex topics into easy-to-understand pieces, blending expertise in market fundamentals and technical analysis.
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