The seventh month of 2025 is around the corner, and the month will bring a lot of important financial and railway changes - to be implemented from July 1, 2025.
According to the recent update by the Central Board of Direct Taxes (CBDT), the new PAN card applications will only be possible through UID verification from July 1, 2025. This move has been implemented to enhance digital integration and enhance tax compliance.
However, previously, a PAN card was obtained with a valid ID and birth certificate.
Along with this, the CBDT has also extended the income tax return filing deadline to September 15, 2025, which earlier was July 31, 2025.
The bank authorities, associated with SBI, HDFC, and ICICI, have outlined that the charges for banks and credit cards will be revised starting from July 2025.
SBI -
The air accident insurance under the SBI card will be discontinued from July 15 on selected premium cards, including ELITE and PRIME. The ways to calculate the Minimum Amount Due (MAD) will also be revised; according to the authorities, it will be calculated via GST, EMIs, fees, and more.
HDFC -
The bank has announced that a 1 percent fee will be imposed on rent payments, wallet reloads over Rs 10,000, gaming spends above Rs 10,000, and utility bills above Rs 50,000.
Under the insurance payments, customers will be able to earn reward points up to 10,000 per month.
ICICI -
Certain changes have been implemented by the ICICI Banks, including ATM charges, IMPS fees, and cash transaction limits.
AC waiting list cap will be increased from 25% to 60% of total berths due to passenger demand and capacity underuse, whereas non-AC waiting list set will remain fixed at 30 percent for sleeper and second-class coaches.
Reservation chart Timing will now be increased to 8 hours before departure, which earlier was 4 hours.
From July 1, Aadhaar-linked ID will be needed, and from July 15, OTP on Aadhaar-linked mobile is required.
Minor fare hikes will be introduced; according to the railways, ₹0.01/km will be hiked for non-AC and ₹0.02/km for AC routes; suburban and short-distance fares will remain unchanged.