Major Financial Changes from July 1, 2025: What Every Indian Must Know

🔗 Aadhaar Now Mandatory for New PAN Card Applications

Starting today, Aadhaar verification is compulsory for anyone applying for a new PAN card. Existing PAN holders who haven’t yet linked their Aadhaar must do so by December 31, 2025, or risk PAN deactivation.

✅ What This Means:

• No more PAN issuance without Aadhaar.
• Ensure your Aadhaar is linked to avoid income tax issues.

🚉 Tatkal Train Bookings Now Require Aadhaar + OTP

To curb misuse and boost security, Indian Railways has made Aadhaar mandatory for all Tatkal bookings.

🔐 From July 15, a new 2-step authentication will be introduced:

• Aadhaar verification
• OTP on registered mobile (for online & counter bookings)

🎫 Ticket Price Hike:

• Non-AC: ₹0.01/km increase
• AC: ₹0.02/km increase

🧾 ITR Filing Deadline Extended to September 15

Good news for taxpayers! The CBDT has extended the ITR filing deadline for salaried individuals from July 31 to September 15.

📌 Tip: If your documents are ready, file early to avoid last-minute portal crashes.

💳 Credit Card Fee Revisions from SBI, HDFC, ICICI

🔷 SBI Cards

• Air accident insurance benefits removed from select premium cards (Elite, Miles Elite, Miles Prime)
• New method for calculating Minimum Amount Due (MAD)

🔷 HDFC Bank

• 1% transaction fee on:
• Rent payments
• Online gaming spends over ₹10,000
• Digital wallet loads over ₹10,000
• Utility bill payments over ₹50,000/month will also attract fees (except insurance)

🔷 ICICI Bank

• ATM Charges:
• First 5 withdrawals at ICICI ATMs: Free
• Thereafter: ₹23 per transaction
• Non-financial: Free
• Other ATM Usage:
• Metro Cities: 3 free non-ICICI transactions
• Non-Metros: 5 free transactions
• After limit: ₹23 (cash), ₹8.5 (non-cash)
• International ATM Fees:
• Withdrawal: ₹125
• Inquiry: ₹25
• 3.5% forex markup
• IMPS Transfer Charges: ₹2.5–₹15 based on amount
• CRM (Cash Recycler) Transactions: 3 free per month, then ₹150
• Cash Deposits > ₹1L/month: ₹150 or ₹3.5 per ₹1,000 (whichever higher)
• Third-party deposits limit: ₹25,000 per transaction

🏧 Axis Bank Hikes ATM Transaction Fees

From today, Axis Bank will charge more for ATM transactions beyond free monthly limits across all major savings, NRI, trust, and premium accounts.

• Out-of-network ATM withdrawals: ₹23 per transaction

🚗 Delhi Enforces Fuel Ban for Overaged Vehicles

The Delhi government has implemented an automated fuel ban for End-of-Life vehicles to fight pollution.

📷 How it works:

• ANPR cameras at 520+ fuel stations
• Vehicles flagged from VAHAN database
• Banned vehicles won’t be allowed to refuel

🚆 Railway Waitlist Charting Time Extended

Indian Railways will now prepare reservation charts 8 hours before departure instead of 4. This allows waitlisted passengers more time to plan alternate travel if needed.

🏦 RBI Extends Call Money Market Hours

The Reserve Bank of India has extended call money market trading hours for interbank lending from 9 AM – 5 PM to 9 AM – 7 PM, giving banks more flexibility for fund management.

🧾 GSTR-3B Returns Now Locked After Filing

Starting this month, once you file your GSTR-3B, it will be non-editable. Data will be auto-filled from GSTR-1/1A, so businesses need to ensure accuracy before submission.

📌 Key Takeaways

📣 Stay updated with Fincrif to get real-time news that directly impacts your wallet, travel, taxes, and day-to-day banking.