Nowadays, the importance of financial services is increasing in our lives, and the changes in the rules related to them have a direct impact on our pockets. The month of June is bringing some such important changes, which are related to bank FD, credit cards, and mutual funds. This article will give you in-depth information about all these important updates so that you can make your financial decisions wisely.
Big financial changes in June
The month of June 2025 is bringing many important changes in your financial life. Axis Bank and Kotak Mahindra Bank have made such changes in the rules of credit cards, which will directly affect the pockets of the customers.
Apart from this, SEBI has changed the cut-off time for overnight mutual funds, while the Reserve Bank of India (RBI) may further reduce interest rates. All these changes will affect your savings, investments, and spending habits. Therefore, knowing and understanding these latest updates is extremely important for you.
The big change in the cut-off time of overnight mutual funds
SEBI has introduced a new cut-off time for overnight mutual fund schemes to improve operational efficiency and fund management. The market regulator wants to make the process related to mutual funds according to international practices. The new cut-off time will be applicable from June 1.
The new rule says that if the application is received by 3 pm, then the net asset value (NAV) of the previous day will be applicable. If the application is received after 3 pm, the net asset value of the next day will be applicable. Apart from this, if the application is submitted online, 7 pm will be considered as the cut-off time for the overnight fund scheme! This change will bring clarity to investors.
RBI likely to cut interest rates
The Reserve Bank of India (RBI) has reduced the repo rate twice this year. For the first time, it reduced the repo rate by 25 basis points in February. For the second time, it reduced it by 25 basis points in April. Due to this, the repo rate, which was 6.5 percent at the beginning of this year, has come down to 6 percent.
Economists believe that the RBI may reduce the repo rate by another 25 basis points on June 6. The reason is that retail inflation has remained below the RBI’s medium-term target of 4 percent. If this happens, the EMI on your loans may decrease.
Changes in Axis Bank credit card rules
Axis Bank has announced changes in the terms and conditions of several of its credit cards. These changes will be effective from June 20. Facilities on cards like Magnus for Burgundy and Flipkart have been reduced, while facilities on cards like Select and Privilege have been increased. The bank has officially informed the customers about this. Axis Bank credit card customers must know properly about this. This will directly affect your expenses and benefits.
Kotak Mahindra’s credit card rules also changed
Kotak Mahindra Bank has also changed the terms and conditions of its credit cards. The new rules will be effective from June 1. The bank has reduced the reward points on credit cards. The value of cashback redemption has also been reduced.
Apart from this, the reward point accrual for transactions on education, utilities, and online gaming has been reduced. Apart from this, now the cashback redemption value of points will also be reduced. This is a significant change for customers who depend on rewards points and cashback.