Latest news with #myAadhaar
India.com
a day ago
- Business
- India.com
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
photoDetails english 2909387 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. Updated:Jun 01, 2025, 02:09 PM IST ICICI Bank FD Rates 1 / 7 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 2 / 7 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 3 / 7 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 4 / 7 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 5 / 7 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 6 / 7 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 7 / 7 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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Business Standard
3 days 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.
Mint
3 days ago
- Business
- Mint
From EPFO 3.0 to free Aadhaar update & more: Key money rule changes from 1 June 2025 that could affect your wallet
Money rule changes from 1 June 2025: A series of financial rules will be introduced from 1 June 2025, onwards, expected to impact individuals and businesses actively engaged in the financial sector. The introduction of the Employees' Provident Fund Organisation (EPFO) 3.0 system, the TDS deadline, and Sebi's new cut-off timings for overnight mutual fund schemes are some of the personal finance rules and initiatives that will be implemented from June 2025 onwards. Here is a list of important 1 June money rule changes that all individuals and businesses must know: The Employees' Provident Fund Organisation is likely to introduce EPFO 3.0, which is expected to enable EPF members to withdraw PF funds instantly through UPI and ATMs, aiming to eliminate the lengthy process of withdrawal, according to a report by DD News. Additionally, the latest system will enable EPF members to check their provident fund balance directly on UPI platforms and transfer funds to their preferred bank accounts. The deadline for issuance of the tax deduction at source (TDS) certificate under Form 16 is 15 June 2025. Form 16 is a certificate provided by employers to salaried employees, confirming that tax has been deducted from their salary. Essentially, it serves as proof that the deducted tax has been submitted to the income tax department. This certificate must be issued by 15 June of the relevant year. For instance, for the financial year 2024-25, Form 16 should be issued by 15 June 2025. 14 June 2025 is the final date to update Aadhaar details for free on the myAadhaar portal. After this date, a fee of ₹ 25 will be applicable on all online updates and ₹ 50 for updates at physical Aadhaar centres. The market regulator has introduced new cut-off timings for overnight mutual fund schemes from 1 June 2025 onwards. The revised cut-off time aims to bring transparency and consistency in the net asset value (NAV) calculation process. From 1 June 2025 onwards, the cut-off times for overnight mutual fund schemes will be 3 PM for offline transactions and 7 PM for online transactions. Suryoday Small Finance Bank will reduce interest rates on fixed deposits from 1 June 2025 onwards. From this date, FD rates will range from 4 per cent to 8.4 per cent for deposits under ₹ 3 crore. Some banks will introduce credit card fees and rule changes from June 2025 onwards. Kotak Mahindra Bank will revise its credit card fee structure from 1 June 2025 onwards. These changes include new fees for services such as standing instruction failures and dynamic currency conversion. Moreover, the bank will introduce a new approach for determining the Minimum Amount Due, which is the smallest amount that must be paid every month to avoid late payment fees. HDFC Bank will revise its lounge access policy for Tata Neu Infinity and Tata Neu Plus credit cardholders from 10 June 2025 onwards. As per the revised policy, lounge access will be granted through vouchers based on quarterly spending instead of direct card swipes. From 20 June 2025 onwards, Axis Bank will introduce phased adjustments to its REWARDS Credit Card. The adjustments involve alterations to reward points, cashback percentages, lounge access, and spending categories for certain cards.
Indian Express
22-05-2025
- Indian Express
Free Aadhaar update ends June 14: Here's how to do it online
Last year, the Unique Identification Authority of India, also known as UIDAI, announced that Aadhaar cardholders will be able to update their information for free until June 14, 2025. According to the Aadhaar Enrolment and Update regulations, 2016, it is mandatory for individuals to update their proof of identity and proof of address every 10 years from their Aadhaar enrolment date. After the deadline, Aadhaar updates won't be free, and cardholders will have to mark their presence at physical Aadhaar centres to update their information. If you haven't updated your Aadhaar card details in the last decade, here's how to avoid the Rs 50 standard fee and do it for free via the myAadhaar portal. The process is pretty straightforward and lets you quickly update your information without having to go to a physical centre. How to update Aadhaar card details for free before June 14, 2025 1. Open your favourite browser and head over to ' 2. Now, click on the blue login button and enter your Aadhaar card number and the captcha to get a one-time password (OTP). 3. When you log in to the portal, see if your existing address and identity proof are up to date. If they aren't, click on the 'Document Update' option that appears on the top right of the page. 4. From the drop-down menu, choose the documents you want to update and upload the corresponding files. 5. Once done, review and submit your documents to get a Service Request Number (SRN), which helps track the update progress of your request. One thing to note here is that the website only supports JPEG, PNG and PDF files. Also, the size of these files should be less than 2MB in size. In case you want to update other information like photo and biometrics, the only way to do so is by visiting the nearest Aadhaar Enrolment Centre.
India.com
08-05-2025
- India.com
Is Your Aadhaar Card In Pakistani Hands? How To Check, Report And Stop Misuse
Aadhaar Card Misuse Detection: The Aadhaar card is a crucial document for Indian residents. The 12-digit ID number serves as proof of identity and address nationwide and is essential for accessing various services, including SIM card issuance, travel, government schemes, telecommunications, and banking. Amid ongoing India-Pakistan tensions, alarming reports of Aadhaar card misuse have raised concerns about the personal data of Indian citizens falling into the wrong hands—even in countries like Pakistan, where hackers have been consistently targeting Indian websites, including those of the defence sector and UIDAI. What's concerning is that if your Aadhaar falls into Pakistani or other malicious hands, it can be misused and potentially become part of an anti-India plot. Since Aadhaar is linked to critical services such as bank accounts and mobile numbers, any unauthorised access could seriously compromise your identity and finances. To help individuals safeguard their Aadhaar and monitor its activity, the Unique Identification Authority of India (UIDAI) has introduced dedicated tools or features that allow users to track and secure their Aadhaar usage effectively. How To Check If Your Aadhaar Card Has Been Misused? Step 1: Visit the official myAadhaar portal. Step 2: Enter your Aadhaar number and captcha, then click on 'Login with OTP.' Step 3: Enter the OTP received on your registered mobile number to access your Aadhaar dashboard. Step 4: Click on 'Authentication History' and select the desired date range to view past activity. Step 5: Review the log for any unfamiliar entries and report suspicious activity immediately to UIDAI. How To Report Misuse Of Aadhaar Card? To report any fraudulent activity related to your Aadhaar card, you can call the toll-free number 1947, email help@ or file a complaint directly on the UIDAI website. How To Lock Your Aadhaar Biometrics: Step 1: Go to the official UIDAI website and open the 'Lock/Unlock Aadhaar' section. Step 2: Read the guidelines carefully to understand the locking process. Step 3: Enter your Virtual ID (VID), name, PIN code, and the captcha code as required. Step 4: Click on 'Send OTP' to receive a one-time password on your registered mobile number. Step 5: Use the OTP to confirm and lock your Aadhaar biometrics for enhanced security.
