Big Financial Changes: The month of June is extremely important for your money. Avoid penalties on credit cards, correct Aadhaar errors for free, take advantage of new PF facilities and keep in mind the new security rules on UPI. This month is bringing many changes that will directly affect your pocket and financial transactions.
Whether you are a salaried person, a businessman, or simply want to manage your expenses, knowing these important updates is extremely important for you. Let us understand all these changes in detail so that you can take the right step at the right time.
Credit Card
From June 1, if the auto-debit of any type of bill or EMI from the credit card fails, a penalty of 2% will be imposed. You may have to pay an extra charge for paying an electricity-water bill or buying petrol-diesel with a credit card. Banks can now also change the way they give reward points on credit cards. So, now pay special attention to your credit card bills and auto-debits.
Good news for PF account holders
EPFO can bring its new SIM version 3.0 in June. This will make it very easy to withdraw money, claim, or update information from a PF account. The facility of withdrawing PF money from ATMs can also start this month. This facility will prove to be a big game-changer for PF account holders.
Interest in FD may decrease
The RBI meeting is on June 6. If RBI reduces interest rates (repo rate), then banks can also reduce interest on fixed deposits (FD). Currently, FD is getting interest from 6.5% to 7.5%. Investors should keep a close eye on this, as it will have a direct impact on their savings.
Correct mistakes in the Aadhaar card
Till June 14, 2025, you can correct information like name, address, date of birth, and gender in your Aadhaar card online for free. After this deadline, you will have to pay a fee of ₹50 for every correction and visit the Aadhaar center. So, if there is any mistake, go to myAadhaar portal now and get it corrected. This is the last free opportunity.
For salaried people
Your company (employer) will issue you Form-16 by June 15. This form is important for filing an income tax return, as it contains complete details of the tax deducted from your salary. Only after receiving it can you start filing an income tax return. This form is proof of your income and tax deduction.
New rule on UPI
From June 30, there will be a big change while making UPI payments. Now, only the real name registered with the bank of the person to whom you are sending money will be visible. Earlier, any name written in his UPI ID (such as a nickname) was visible. Its purpose is to make online payments secure and reduce fraud. This step will make digital transactions more reliable.