What Financial Rules Are Changing From July 1? Aadhaar-PAN, Credit Card Charges, Railway Fares & More

From Aadhaar-linked PAN rules to new ATM fees and Tatkal ticket changes, here’s a roundup of key financial regulations that come into effect starting July 1, 2025.

New Delhi, June 30, 2025 –Major financial and regulatory changes are set to kick in from July 1, impacting everything from income tax filings and railway bookings to credit card transactions and ATM usage. The revised norms apply to banks like HDFC, ICICI, and SBI, and are expected to affect millions of customers and taxpayers across India.

Also Read: Indian Railways Fare Hike Effective July 1: Who’s Affected and What’s Changing

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🔍 Key Financial Changes Effective July 1, 2025

✅ Aadhaar-PAN Linking Becomes Mandatory

The Central Board of Direct Taxes (CBDT) has made it mandatory to provide Aadhaar for all new PAN card applications.

• Existing PAN holders must link their Aadhaar by December 31 to avoid deactivation.
• Previously accepted documents like driving licenses or birth certificates will no longer suffice for new PAN issuance.

Also Read: Delhi Scraps Police Licensing for Hotels, Pools, and Discotheques in Major Business Reform

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🚆 Tatkal Train Ticket Bookings: Aadhaar & 2FA Needed

• Aadhaar verification will be mandatory for Tatkal ticket bookings.
• From July 15, all IRCTC bookings will require two-factor authentication (OTP-based).
• A minor rail fare hike is also expected:
  • 1 paisa/km for non-AC coaches
  • 2 paisa/km for AC coaches

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🧾 ITR Filing Deadline Extended

Also Read: India, US Enter Final Phase of Trade Talks Ahead of Tariff Deadline

• Income Tax Return filing deadline extended from July 31 to September 15 for most salaried individuals.
• Those ready with documentation are encouraged to file early to avoid last-minute tech glitches.

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💳 Credit Card & Banking Rule Changes

SBI Credit Card Updates

• Air accident insurance for premium cards like SBI Elite, Miles Elite, and Miles Prime to be discontinued.
• A new minimum amount due (MAD) formula to be introduced.

HDFC Card Charges

• 1% transaction fee (capped at ₹4,999) for:
  • Rent payments
  • Online skill gaming (₹10,000+ per transaction)
  • Utility bill payments exceeding ₹50,000/month
  • Digital wallet top-ups exceeding ₹10,000 in a single transaction
    (Insurance payments excluded)

ICICI Bank Service Charge Revisions

• ATM withdrawals:
  • First 5 transactions free at ICICI ATMs
  • ₹23 for each subsequent withdrawal
• Non-bank ATMs:
  • Free: 3 (metros), 5 (non-metros)
  • After limit: ₹23 (cash), ₹8.5 (non-cash)
• International ATMs:
  • ₹125 per cash withdrawal
  • ₹25 for non-financial transactions
  • 3.5% currency conversion fee
• IMPS Transfers: Charges revised from ₹2.5 to ₹15, based on transaction amount.
• Cash Recycler Machine (CRM):
  • First 3 cash transactions free
  • ₹150 per transaction after that
• Cash deposits: Over ₹1 lakh/month will attract ₹150 or ₹3.5 per ₹1,000, whichever is higher.
  • Third-party cash deposits capped at ₹25,000 per transaction.

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