June 1st New Rules: From Credit Cards and ATMs to Gas Cylinders- What You Need to Know

Starting June 1, 2025, several significant financial rules and service-related changes will come into effect in India. These updates will directly impact your daily financial transactions, spending habits, savings, and utility payments. Here’s a comprehensive look at all the new financial rules from June 1 that you should be aware of.

EPFO 3.0 Rollout to Benefit Employees

The Employees’ Provident Fund Organisation (EPFO) will implement its upgraded EPFO 3.0 system from June 1. This new system aims to simplify PF withdrawals, KYC updates, and claim processing for EPF account holders. A notable feature includes the use of ATM-like cards for PF fund withdrawals, making the process faster and more user-friendly.

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New Credit Card Rules from June 1, 2025

Credit card users should brace for a slew of changes starting June 1:

• 2% penalty on failed auto-debit transactions.
• Additional charges may apply for utility bill payments, fuel expenses, and international transactions.
• Reward points accumulation may be reduced under the new guidelines.

These new credit card rules could impact monthly expenses and reward earnings, so users must review their billing habits.

Changes in Fixed Deposit (FD) Interest Rates

Banks such as HDFC Bank and Axis Bank have already made recent reductions in FD interest rates, and more changes are expected from June 1. While current FD rates range between 6.5% to 7.5%, several banks may further revise rates downward. It’s advisable to lock in your FD at the existing rate before these changes take effect.

LPG Gas Cylinder Price Revision on June 1

As is customary every month, LPG gas cylinder prices will be revised on June 1, 2025. This could mean an increase or decrease in the cost of cooking gas, which will directly affect the monthly household budget. Consumers are advised to check for the latest LPG rates on the first of the month.

ATM Withdrawal Rules to Change

From June 1, ATM transaction charges could be revised, especially for transactions beyond the free limit. New rules might include:

• Increased withdrawal charges after free monthly limits.
• Changes in the number of free transactions allowed per month.

These changes could impact frequent ATM users and those in rural or semi-urban areas relying heavily on cash withdrawals.

Summary: What Should You Do?

As these financial rules and charges change from June 1, 2025, here are a few tips to stay prepared:

• Check your bank’s FD rate and consider locking in before any cuts.
• Update KYC and EPFO details to take advantage of EPFO 3.0.
• Review your credit card usage to avoid surprise charges.
• Monitor LPG prices and refill accordingly.
• Be aware of ATM limits to avoid additional charges.