Latest news with #HDFCBank
Time of India
an hour ago
- Business
- Time of India
HDFC Bank, Axis Bank, American Express, Kotak Mahindra Credit Card changes June 2025: Know what is what, how it impacts your cashback, reward points
In June 2025, several major banks are set to revise their credit card terms and conditions. This will affect everything from how rewards and fee waiver on spending are calculated to airport lounge access, cashback benefits , and even fuel rewards. These changes could directly impact how you earn and redeem benefits on your credit cards. If you're a cardholder with HDFC Bank , Axis Bank , Kotak Mahindra or American Express, here's what's changing, and from when in June 2025. HDFC Bank credit card: Airport lounge access changes from June 10, 2025 HDFC Bank is changing its terms and conditions of two credit cards - Tata Neu Infinity and Tata Neu Plus from June 10, 2025. Going forward, These credit card holders will not be able to swipe their cards directly at airport lounges for entry. Instead, HDFC will issue lounge access vouchers to eligible customers based on quarterly spending milestones. This means customers must meet minimum spending thresholds each quarter to unlock airport lounge access benefits. HDFC Bank credit card airport lounge access change from June 10, 2025 Kotak Mahindra changes from June 1, 2025 From June 1, 2025, Kotak Mahindra Bank will revise multiple charges on its credit cards offering. The changes include new fees for failed standing instructions, dynamic currency conversion (DCC), and transactions involving utility bills, education payments, wallet loading, skill-based gaming, and fuel purchases. Additionally, the method for calculating the Minimum Amount Due (MAD) on outstanding balances will be updated. Live Events Also Read: Kotak Mahindra Credit card changes from June 1, 2025 Axis Bank credit card changes from June 20, 2025 Axis Bank is changing terms and conditions for two of its credit cards - Flipkart Axis Bank Credit Card and REWARDS Credit Card. The changes will be effective from June 20, 2025. Flipkart Axis Bank Credit Card holders will see an increase in cashback benefits on Myntra purchases but will lose the complimentary airport lounge access — a significant change for frequent travelers. For the REWARDS Credit Card, Axis Bank is introducing a revised approach to spend exclusions, meaning not all purchases will count towards earning reward points. The criteria for annual fee waivers will also become stricter, likely requiring higher annual spends. Also Read: No more airport lounge access in this Axis Bank Credit Card from June 20, 2025 American Express Gold Charge changes from June 12, 2025 American Express is also updating the rewards policy for the Gold Charge Card starting June 12, 2025. As per the new rules, fuel purchases — including petrol, diesel, and CNG from Oil Marketing Companies (OMCs) — will no longer earn Membership Rewards points for American Experess Card holders. For credit cardholders who regularly use their Amex Gold Card for fueling, this change reduces the overall reward-earning potential and may influence their future payment preferences. According to the website, 'Effective 12 June 2025, you will not earn Membership Rewards® point on Fuel payments via Gold Charge card. Fuel includes petrol, diesel, CNG from Oil Marketing Companies (OMCs).'
Hindustan Times
6 hours ago
- Hindustan Times
3 masked men loot ₹40L from bank at gunpoint
Three masked men robbed ₹40 lakh from the HDFC Bank branch situated in Rihanna-Jattan village alongside Phagwara-Hoshiarpur road in Kapurthala district on Friday. The incident happened around 3.10 pm when two of the robbers entered the bank and held its manager at gunpoint. The third assailant remained in his vehicle with its engine revving to ensure quick escape from the spot. Senior police officials, including Kapurthala's senior superintendent of police Gaurav Toora, reached the spot. 'We have gathered the CCTV footage from the bank from which we have received vital leads, which are being followed by multiple police teams. We have also traced the white Hyundai Verna car used by the robbers,' Toora said. He added that from the CCTV footage, it came to fore that the accused had conducted a recce as they were seen approaching the cash chest. 'The accused also snatched mobile phones of four customers. We have recovered the mobile phones from different locations within 5-km radius of the crime spot,' said Toora, adding that the special investigation teams, comprising special crime branch and crime Investigation agency (CIA) personnel, were constituted for a probe. 'We are not ruling out involvement of insiders as the probe is being carried out keeping in mind multiple angles. We have been trailing the CCTV footage on both sides — Phagwara and Hoshiarpur,' Toora said. According to the police, the CCTV footage showed the robbery was carried out with a such precision that the robbers entered and exited within three minutes. 'After committing the crime, the miscreants fled towards Hoshiarpur side. From their outlook, the accused appeared to be from well-off families as they wore branded clothes and shoes,' a senior official said.
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Business Standard
17 hours ago
- Business
- Business Standard
Market regulator Sebi move to clip HDFC, ICICI wings in Bank Nifty
The latest measures introduced by the Securities and Exchange Board of India (Sebi) for the futures & options (F&O) segment may adversely impact HDFC Bank and ICICI Bank stocks. Market participants anticipate a churn of nearly $1 billion as passive funds tracking the Bank Nifty and Bankex indices adjust to the new regulations. They expect significant selling pressure, particularly on HDFC Bank and ICICI Bank. Currently, both banking giants carry a weighting of over 25 per cent each in the 12-member Nifty Bank index, a widely followed benchmark in the derivatives segment. In a move aimed at reducing index concentration and volatility, the markets regulator has now capped the weighting of a single stock in non-benchmark indices at 20 per cent. It has also mandated that such indices must include at least 14 constituents, with the combined weighting of the top three components limited to 45 per cent. Experts said Sebi's move came amid fears that thematic indices run the risk of manipulation due to high concentration of individual stocks. These changes, announced by the markets regulator on Thursday, will be implemented by November 3. Brian Freitas of Periscope Analytics, who publishes research on the Smartkarma platform, expects significant outflows from HDFC Bank and ICICI Bank as a result of the changes. He estimates that HDFC Bank could face selling to the tune of ₹2,140 crore, while ICICI Bank may see ₹1,673 crore in sales, in line with the newly imposed 20 per cent cap on weightings. Conversely, Freitas anticipates the inclusion of Yes Bank and Union Bank of India in the Bank Nifty index, taking the total number of constituents to 14. Their additions are expected to trigger inflows of ₹888 crore and ₹600 crore for the respective stocks. Other Bank Nifty components may see inflows ranging from ₹60 crore to ₹400 crore due to redistribution of capital following the reduced weighting of HDFC Bank and ICICI Bank. While the recommendations must be implemented by November 3, it is likely that the index provider will make these changes during the next rebalance in September, according to Freitas. There is a small possibility that the capping changes could be implemented in the June quarter, with the two index inclusions occurring in the September quarter. Alternatively, the capping changes could be rolled out in two phases: The first at the end of June and the second (including the two inclusions) in September, he said. A phased rollout could help in smooth implementation. The churn resulting from the reconstitution of the Bankex will be in addition to this. However, this index is not as widely tracked by passive funds as the Bank Nifty index.
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Business Standard
18 hours ago
- Business
- Business Standard
Key financial changes in June 2025: Aadhaar, UPI, FD rates & more
Starting in June, a host of financial changes could affect your savings, spending, and investments. Rules around mutual fund transactions are being tightened, Aadhaar updates will no longer be free, and banks are tweaking credit card benefits and fixed deposit rates. UPI transactions will also see added transparency a round-up of what to watch out for this month. Free Aadhaar updates deadline The Unique Identification Authority of India (UIDAI) has announced that the facility to update Aadhaar details online, such as address or identity proof, will remain free only until June 14, 2025. After this date, users will need to pay a fee for updates, even online. Users are advised to log into the myAadhaar portal and ensure their details are accurate. Form 16 must be issued by June 15 Employers must issue Form 16, the TDS certificate on salary, by June 15. This is a key document required for filing income tax returns (ITR) and reconciling taxes paid. Employees are advised to check with their HR or payroll team if they haven't received it by the deadline. Sebi's new cut-off timings for overnight mutual funds Starting June 1, the Securities and Exchange Board of India (SEBI) has revised the cut-off timings for transactions in overnight mutual fund schemes: 3 PM for offline transactions These changes aim to standardise NAV applicability and improve fund management processes. Investors should plan redemptions and investments accordingly to avoid last-minute surprises. UPI beneficiary name must be verified, effective June 30 The NPCI has mandated that from June 30, all UPI apps must display the verified name of the beneficiary during transactions. This rule is designed to reduce fraud and misdirected payments by ensuring greater clarity and trust in peer-to-peer transfers. Axis Bank credit card changes, effective June 20 Axis Bank will introduce a phased update to its Rewards credit card line from June 20, 2025. The changes include: New reward point structures Revised cashback rates Updated lounge access rules Reclassification of eligible spending categories Customers should review the updated terms to make the most of their card benefits. HDFC Bank lounge access policy, changing June 10 From June 10, HDFC Bank's Tata Neu Infinity and Tata Neu Plus credit cardholders will no longer get automatic lounge access through card swipes. Instead, lounge access will be available via vouchers, issued based on quarterly spending milestones. Users should track spending to qualify for these benefits. Changing FD interest rates Several banks have adjusted their fixed deposit (FD) interest rates effective June 1: ICICI Bank has reduced rates by up to 20 basis points on select tenures. Senior citizens now earn a maximum of 7.35 per cent. Suryoday Small Finance Bank has cut its top rate for senior citizens from 9.1 per cent to 8.4 per cent for 5-year FDs. Depositors are advised to check the revised rates and consider laddering FDs or looking at small finance banks for better returns. Plan ahead for August: UPI usage caps incoming Though not effective this month, it's worth noting that from August 1, NPCI will restrict UPI balance enquiries and mandate specific hours for processing UPI autopay mandates. These changes aim to ease server load and improve performance during peak usage.
Business Upturn
a day ago
- Business
- Business Upturn
Nifty 50 top gainers today, May 30: Eternal, SBI, HDFC Bank, Larsen & Toubro, Dr. Reddy's Laboratories and more
By Aman Shukla Published on May 30, 2025, 15:36 IST The Indian stock market ended in the red on Friday, May 30, 2025, as key benchmark indices declined amid broad-based weakness. The BSE Sensex slipped by 182.01 points (0.22%) to close at 81,451.01, while the Nifty 50 dropped 82.90 points (0.33%), settling at 24,750.70. However, amidst the broader market weakness, several Nifty 50 stocks bucked the trend and recorded impressive gains. Eternal, SBI and HDFC Bank emerged as the top gainers on the Nifty 50 index today. Below is a detailed look at the top gainers of the Nifty 50 (as per Trendline) for the day. Nifty 50 Top Gainers on May 30 Eternal closed at ₹238.3, marking the highest percentage gain of 4.4% in the session. State Bank of India ended at ₹812.3, registering a 1.9% increase. HDFC Bank saw a 0.9% rise, closing at ₹1944.9. Larsen & Toubro finished the session at ₹3675.1, up by 0.5%. Dr. Reddy's Laboratories closed at ₹1251.0 with a 0.2% gain. Reliance Industries ended slightly higher at ₹1420.9, gaining 0.2%. Bajaj Finserv remained nearly unchanged, closing at ₹2011.5 with a marginal uptick of 0.0%. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Dr Reddy's LaboratoriesEternalHDFC BankLarsen & ToubroNiftySBI Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
