Latest news with #non-ICICI
Time of India
19 hours ago
- Business
- Time of India
From ATM charges to Aadhaar OTP for Tatkal booking: Important financial rule changes from July 2025
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. For the latest and more interesting financial news, keep reading Indiatimes Worth. Click here.
Mint
22-04-2025
- Business
- Mint
ICICI credit card balance transfer: Process, eligibility and key benefits explained
Do you have high-interest credit card debt from an earlier bank that's being carried over? An ICICI Bank credit card balance transfer can enable you to reduce your interest costs and facilitate debt consolidation. But, what do you need to keep in mind, and how does this process really work? Let's consider the precautions of transferring a balance using ICICI Bank, as well as the process in greater detail. Balance transfers mean that you transfer outstanding balances from one or more credit card(s) to your ICICI Bank credit card, in such a way that is often at reduced or zero percent interest for a limited amount of time. You may utilise this service to: Reduce expensive interest payments Combine many credit card bills into one Pay back faster with reasonable EMIs ICICI Bank credits cardholders who handle the repayment of their credit card balances have the option for this service. At least ₹ 15,000 in unpaid balances on your existing non-ICICI card. 15,000 in unpaid balances on your existing non-ICICI card. A flawless repayment history. ICICI Bank offers two main types of balance transfers: Duration options: three, six, or nine months. Has an EMI in place, with monthly fees of interest beginning at 1.25%. May have a processing fee (usually either 1% of the balance transferred or a flat fee of ₹ 199). Interest-free period: up to three months. You must repay the entire amount within the interest-free time frame to avoid interest. Visit ICICI internet banking and log in. Go to the "credit card" section. Click on "balance transfer." Fill in the transfer amount and the credit card number from your other bank. Open iMobile application of ICICI. Pick the credit card you want. Tap on the "more options.' Select "balance transfer." Follow the pop-up screen directions. Call 1860 120 7777 for ICICI credit card customer service. Ask for a balance transfer. Keep your card number and the remaining balance handy. Typically, the transfer is completed within three to five business days after approval. The money is moved via demand draft or direct credit to your other bank's credit card account. Always check the interest rates and processing fees. Be sure your EMIs or full dues are paid on time to avoid penalties. Do not use your ICICI card again until the balance transfer has been completed. In conclusion, if you wish to pay off your credit card debt and reduce your interest payments, take advantage of the ICICI Bank's balance transfer service. It can be highly beneficial with fast processing and multiple payment options if used wisely. Disclaimer: Mint has a tie-up with fin-techs for providing credit, you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit score. Mint does not promote or encourage taking credit as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit. First Published: 22 Apr 2025, 12:17 PM IST
