From PF to Free Aadhaar Update, 5 Major Financial Changes Coming in June 2025
From June 1, 2025, several important financial changes will come into effect across India, affecting aspects such as savings, credit card rules, and provident fund (PF) access.
5 Major Financial Changes Coming in June 2025
EPFO 3.0 to Go Live
Among the most notable changes is the launch of the upgraded EPFO 3.0 system by the Employees’ Provident Fund Organisation from June 1. The aim of this new system is to simplify the PF withdrawal process, facilitate KYC updates, and speed up the claim process. A key feature of this update is the introduction of ATM-like cards, which facilitate easy and quick access to EPF funds for users.
Changes in Interest Rate
Suryoday Small Finance Bank has joined other financial institutions in reducing interest rates on fixed deposits (FDs). From June 1, 2025, the bank will offer interest rates ranging from 4% to 8.4% for deposits below Rs 3 crore, with the highest rate applicable for tenors between 30 and 36 months. Notably, the interest rate for 5-year FDs will be reduced by 60 basis points, from 8.6% to 8%. This change reflects broader market trends as banks adapt to changing economic conditions.
Changes in Credit Card Rules
From June 20, 2025, Axis Bank will be making phased changes to its rewards credit cards. The key changes include changes in points accrual rules, revisions in merchant categories, and changes in the validity of reward points. This update will help cardholders better understand their card benefits and manage their spending more effectively.
SEBI’s New Rules for Mutual Funds
In the field of mutual funds, the Securities and Exchange Board of India (SEBI) has changed the cut-off times for overnight mutual fund schemes from June 1, 2025. The new cut-off time for offline transactions has been fixed at 3 pm and for online transactions at 7 pm. Any orders placed after this time will be processed on the next business day and may result in a different NAV than expected.
Aadhaar Card Update Last Date
The last date to update Aadhaar details online is June 14, 2025. Those who fail to update their identity and address proof documents by this date will have to pay a fee of Rs 25 for updating through the online portal or Rs 50 at the physical Aadhaar centre. This deadline emphasizes the importance of maintaining up-to-date personal information in government records.
Overall, the implementation of these rules reflects ongoing efforts to improve the financial system in India. Stakeholders are encouraged to review these changes closely to ensure compliance and maximize their financial benefits.
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