7 Major Changes in July 2025: Impact on Bank Customers, Travelers, and Credit Card Users
Starting July 2025, major changes are set to impact bank customers, travelers, and credit card users. From revised service charges to new booking requirements, here's what you need to know.
Credit Card ChangesBank FeesTravel BookingFinancial UpdatesRailway Fare HikeReal Estate NewsJul 02, 2025
SBI Card has announced a series of important changes for its credit cardholders, which will take effect from July 15, 2025. The changes include modifications in the calculation of minimum due payment, payment settlement order, and the discontinuation of complimentary insurance for air accidents on select SBI credit cards. SBI Card will discontinue its complimentary air accident insurance coverage of Rs 1 crore, which is currently offered on select premium SBI credit cards, effective July 15, 2025.
HDFC Bank is revising its credit card charges starting July 1, 2025, to enhance transparency and align with spending patterns. Some of the changes include a 1% fee capped at Rs 4,999/month, which will apply to online skill-based gaming, wallet loading (e.g., PayTM, Mobikwik), and utility bill payments exceeding Rs 50,000/month for consumer cards (Rs 75,000 for business cards). No reward points will be awarded on gaming spends. Insurance spends remain exempt from charges but will have monthly reward point caps: 10,000 for Infinia, 5,000 for Diners Black, and 2,000 for most other cards. Marriott Bonvoy cards are not subject to this cap among other changes.
Kotak Mahindra Bank has announced the discontinuation of the Myntra Kotak Credit Card, effective July 10, 2025. As part of this transition, all existing Myntra Kotak Credit Card users will be migrated to the Kotak League Credit Card. Cardholders are advised to review the features and benefits of the new card and take note of any changes in terms and rewards that may apply post-migration.
Axis Bank has changed the fees it charges for savings and trust accounts. The new fees will apply from July 1, 2025. The bank has revised fees for ATM transactions that exceed the free limit at both Axis and non-Axis ATMs. This change will affect a large number of accountholders, including those with savings, NRI, and Trust Accounts, as well as some Priority and Burgundy category customers.
Tatkal train tickets purchased via IRCTC's official website and mobile app will only be accessible to individuals who have successfully authenticated with Aadhaar as of July 1, 2025. This means that passengers must link their Aadhaar number with their IRCTC user profile and verify it successfully to be able to book Tatkal tickets online. Further, Aadhaar-based OTP authentication will become mandatory for Tatkal train tickets bookings made online starting July 15, 2025.
ICICI Bank has revised its service charges for certain transactions. Customers of the bank will face revised charges across a range of banking services, including demand drafts, ATM transactions at non-ICICI Bank ATMs in both metro and non-metro cities, cash deposit and withdrawal services, and debit card fees. The updated charges will come into effect from July 1, 2025.
Beginning July 1, 2025, Indian Railways will implement a slight increase in passenger rates across various classes. According to the Railway Ministry, non-AC class rates on Mail and Express trains will rise by 1 paise per kilometre, while AC class fares will rise by 2 paise per km. For instance, a 500 kilometre journey in second class will cost an additional Rs 5. According to officials, the fare change is meant to partially cover rising operational costs while also improving service quality across the network.
Frequently Asked Questions
What are the new changes in SBI Credit Card from July 2025?
SBI Card will discontinue its complimentary air accident insurance coverage of Rs 1 crore on select premium cards and will modify the calculation of minimum due payment and payment settlement order, effective July 15, 2025.
What changes will HDFC Bank implement for credit card users?
HDFC Bank will introduce a 1% fee capped at Rs 4,999/month for online skill-based gaming, wallet loading, and utility bill payments exceeding Rs 50,000/month for consumer cards (Rs 75,000 for business cards). No reward points will be awarded on gaming spends.
What is happening to the Myntra Kotak Credit Card?
Kotak Mahindra Bank will discontinue the Myntra Kotak Credit Card, effective July 10, 2025. Existing users will be migrated to the Kotak League Credit Card.
What new fees will Axis Bank charge starting July 2025?
Axis Bank will revise fees for ATM transactions that exceed the free limit at both Axis and non-Axis ATMs, affecting savings, NRI, and Trust Accounts, as well as some Priority and Burgundy category customers.
How will Aadhaar authentication impact online Tatkal train bookings?
Starting July 1, 2025, passengers must link their Aadhaar number with their IRCTC user profile and verify it successfully to book Tatkal tickets online. Aadhaar-based OTP authentication will be mandatory from July 15, 2025.
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