New financial rules from July 2025: Starting July 2025, several important rules related to money, banking, Aadhaar, PAN cards, GST, and digital payments are being updated. These financial rule changes will directly impact how citizens and businesses in India handle transactions, tax filings, railway bookings, and other day-to-day services. Here’s a detailed look at all the key financial updates coming into effect this month.

Aadhaar Now Mandatory for New PAN Card Applications

From 1 July 2025, the Income Tax Department has made it compulsory to link your Aadhaar while applying for a new PAN card. Earlier, applicants could submit other ID proofs and a birth certificate, but now, only Aadhaar will be accepted.

This rule, introduced by the Central Board of Direct Taxes (CBDT), aims to reduce fake PAN cards and make the verification process more accurate and secure.

ITR deadline extended

CBDT has extended the deadline of income tax return filing for Assessment Year 2025-26 to September 15, according to IANS report.

Aadhaar OTP Needed for Tatkal Railway Bookings

One of the most important rules from July 2025 is the new IRCTC Tatkal ticket booking system. From 15 July, anyone booking Tatkal tickets online or at railway counters must complete an OTP (One-Time Password) verification using their Aadhaar number.

To make bookings fairer and prevent misuse:

Agents won’t be allowed to book Tatkal tickets during the first 30 minutes after the booking window opens.

Booking timings for Tatkal:

AC Class: 10:00 AM to 10:30 AM

Non-AC Class: 11:00 AM to 11:30 AM

These updates are expected to benefit regular passengers by giving them better access during peak travel times.

Axis Bank Increases ATM and Account Charges

From 1 July 2025, Axis Bank customers will see new charges for using ATMs and maintaining accounts. Key changes include:

• ATM transactions beyond the free limit will now cost Rs 23 per transaction, up from the earlier Rs 21.
• This applies to both Axis and non-Axis Bank ATMs.
• Charges apply for both withdrawals and balance enquiries if the limit is crossed.
• These changes affect savings accounts, NRI accounts, and Trust accounts.

ICICI Bank Introduces New Service Fees

ICICI Bank has also introduced new financial rule changes from July 2025. The updated charges include:

• Metro cities: 3 free transactions per month at non-ICICI ATMs.
• Non-metro areas: 5 free transactions per month.

After this limit, customers will pay:

• Rs 23 for financial transactions
• Rs 8.50 for non-financial transactions

-International ATM withdrawals: Rs 125 per transaction

- Cash deposits/withdrawals at branches: Free only 3 times a month, after which Rs 150 will be charged per transaction

- New charges will also apply to IMPS money transfers

Customers should check their account details and adjust their transaction habits to avoid extra fees.

SBI and HDFC Bank Revise Credit Card Charges

Major financial rule changes in July 2025 also affect credit card users.

SBI Credit Card Changes:

• From 15 July 2025, SBI Card will remove complimentary air accident insurance on some premium cards like ELITE and PRIME.
• The Minimum Amount Due (MAD) will now include GST, EMIs, and other charges, making it more expensive if not fully paid.

HDFC Bank Updates:

1% fee will be charged on:

• Rent payments
• Wallet reloads above Rs 10,000
• Utility bills above Rs 50,000
• Gaming spends above Rs 10,000

Maximum fee: Rs 4,999 per transaction

Reward Points: Users can earn up to 10,000 points per month for insurance premium payments

These changes aim to limit misuse and encourage responsible credit usage.

UPI Chargeback Process Made Simpler

The National Payments Corporation of India (NPCI) has simplified the UPI chargeback process to help users quickly resolve payment failures.

From July 2025:

• Banks can now reprocess denied chargebacks without waiting for NPCI’s manual approval.
• This will reduce refund delays and help customers, especially small merchants and digital users, get quicker resolutions.
• This change is part of broader efforts to make UPI more user-friendly and trustworthy.

GST Return Filing Gets Stricter

From July 2025, the Goods and Services Tax Network (GSTN) will introduce strict new rules for filing GST returns.

Key changes include:

• Monthly GSTR-3B forms will become non-editable after submission.
• A three-year deadline has been added, after which no return can be filed, even if it was missed earlier.
• These rules apply to forms like GSTR-1, 3B, 4, 5, 5A, 6, 7, 8, and 9.

These financial rule changes aim to ensure better compliance, reduce fraudulent filings, and avoid mismatches during audits.

Changes to Small Savings Interest Rates

The Indian government is expected to revise small savings scheme interest rates for the quarter from July to September 2025. This may affect schemes like:

• Public Provident Fund (PPF)
• National Savings Certificates (NSC)
• Senior Citizens Savings Scheme (SCSS)
• Sukanya Samriddhi Yojana (SSY)

Investors are advised to check the new rates once announced and plan accordingly.

These important rules from July 2025 cover many aspects of daily life—from booking train tickets and filing taxes to using ATMs and credit cards. Whether you’re a salaried individual, a small business owner, or a student using UPI, it’s important to stay informed and make the necessary updates.

Don’t forget to:

• Link your Aadhaar with PAN
• Review your bank's ATM and service charges
• Update your GST filing strategy
• Keep track of credit card benefits and limits

These July 2025 financial rule changes are designed to make systems safer, more transparent, and more efficient for everyone.

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