Key Financial Changes From June 1, 2025: From EPFO 3.0 To Form 16, New Credit Card Rules, FD Rates, Aadhaar And Income Tax Deadline
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Key Financial Changes In June 2025: As we approaches June 2025, a series of important financial changes will take effect from today June 1, and they may directly impact how you manage your day-to-day money matters. The new changes are expected to impact individuals and businesses actively engaged in the financial sector. These updates touch on several key areas, including credit card usage, ATM withdrawal charges, LPG prices, fixed deposit interest rates, and Aadhaar car updates. Adding further, the RBI is likely to announce an interest rate cut on June 6 during the monetary policy announcement. https://zeenews.india.com/photos/business/key-financial-changes-from-june-1-2025-from-epfo-3-0-to-form-16-new-credit-card-rules-fd-rates-aadhaar-and-income-tax-deadline-2909401 Updated:Jun 01, 2025, 02:09 PM IST ICICI Bank FD Rates
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Several banks have revised their fixed deposit (FD) interest rates effective June 1. ICICI Bank has reduced rates by up to 20 basis points on select tenures, with senior citizens now earning a maximum of 7.35%. Similarly, Suryoday Small Finance Bank has cut its highest rate for senior citizens from 9.1% to 8.4 per cent on 5-year FDs. Depositors are advised to review the updated rates carefully and consider strategies like FD laddering or exploring small finance banks to secure better returns. Income Tax Deadline
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Employers must issue Form 16, the TDS certificate for salaried employees, by June 15, 2025. This document is essential for filing income tax returns and verifying tax deductions for the financial year 2024–25. EPFO 3.0 Likely Coming Soon
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The EPFO is expected to launch EPFO 3.0, allowing instant PF withdrawals via UPI and ATMs. Users will also be able to check their PF balance and transfer funds directly through UPI platforms for added convenience. Free Aadhaar Updates End June 14, 2025
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Online Aadhaar updates—like address or identity proof—will remain free only until June 14, 2025. After this date, charges will apply. Users should log into the myAadhaar portal to ensure all personal details are accurate and up to date. New Credit Card Rules From June 1
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From June 1, some banks may impose additional fees for utility and fuel payments via credit cards. Reward points may be capped, and international charges or auto-debit penalties revised. Customers should check updated policies with their banks. SEBI Revises Cut-off Timings For Overnight Mutual Funds
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From June 1, 2025, SEBI has updated the transaction cut-off timings for overnight mutual funds to 3 PM for offline and 7 PM for online modes. Investors must complete transactions before these times to receive same-day processing. UPI Name Verification Mandatory from June 30
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The NPCI has mandated that all UPI apps must display the verified name of the beneficiary from June 30. This change aims to prevent fraud and mistaken payments by improving transparency in peer-to-peer transactions.
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