June 30, 2025 — As India steps into a new month, several key financial and administrative changes are set to take effect starting July 1, 2025, directly impacting everyday consumers. From revised LPG cylinder prices to stricter PAN card application requirements and updated bank charges, these changes aim to streamline systems and ensure better compliance—but they may also affect your wallet.
Here’s a detailed look at the five major changes you need to be aware of as they roll out from the first day of July.
LPG Cylinder Prices Likely to Change
As per the usual monthly practice, the prices of both domestic and commercial LPG cylinders will be revised on July 1. While commercial cylinder prices were reduced in June, all eyes are now on whether domestic LPG cylinders will see a similar revision. The pricing will be updated by major oil marketing companies like IOCL, BPCL, and HPCL, and consumers are advised to check local rates on the day.
PAN Card Application Now Requires Aadhaar Verification
The Central Board of Direct Taxes (CBDT) has made Aadhaar verification mandatory for new PAN card applications starting July 1. This means individuals can no longer apply for a PAN card using only basic documents like ID proof or birth certificates. The move is aimed at preventing fraudulent or duplicate PANs and improving the overall accuracy of the taxpayer database.
ATM Transaction Charges Hiked by Axis Bank and ICICI Bank
Customers of Axis Bank and ICICI Bank will now have to pay more for ATM withdrawals exceeding the free limit. ICICI Bank, for instance, will allow only 5 free ATM transactions per month, after which customers will be charged ₹23 per transaction. Additionally, international ATM withdrawals will incur a fee of ₹125 plus a 3.5% currency conversion charge. Axis Bank is also implementing a revised fee structure, the details of which will be updated on the bank’s official platforms.
SBI Revises Credit Card Minimum Due Calculation
State Bank of India (SBI) is changing the way it calculates the minimum amount due on credit cards. Starting July 1, the EMI component, GST, and other charges will now be included in the minimum due. This may lead to a higher payment obligation for credit card users, especially those who tend to carry forward balances.
HDFC Bank Introduces New Credit Card Charges
HDFC Bank has introduced new rules for credit card usage, particularly targeting high-value digital transactions. Transactions above ₹10,000 related to online gaming, wallet loading, and utility bill payments will now attract a 1% transaction fee. In addition, no reward points will be provided for such transactions, marking a shift in HDFC’s rewards strategy.
What This Means for You
These changes reflect a broader push toward increased transparency, digitization, and cost recovery by financial institutions and government bodies. While some measures enhance system integrity, others may require consumers to adjust their financial habits, especially in terms of credit usage, ATM withdrawals, and documentation for official processes.
It is recommended that individuals review their bank policies, track LPG prices, and ensure that Aadhaar is linked where necessary to avoid disruption in services.
Author Profile

- My name is Kuldeep Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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