Like every month, several financial rules are set to change starting June 1, 2025. These updates will directly impact your budget, services, and financial planning.
From gas cylinder prices to credit card charges and banking policies, here are the 6 major changes to be aware of. Make sure to update your financial plans and stay informed to avoid inconvenience.
1. EPFO Services to Get Easier
A new EPFO Version 3.0 may be launched on June 1. With this update, services like:
Withdrawing PF money
Making claims
Updating details
…will become simpler. The biggest highlight? You may be able to withdraw PF funds directly using a card, similar to an ATM card.
2. Extra Charges on Credit Card Use
Credit card users could face stricter rules:
If auto-debit fails, you might pay a penalty of up to 2%
Additional charges may apply when using your card for:
Utility bills
Fuel purchases
International transactions (with possible reward point deductions)
Be sure to check your card terms to avoid surprises.
3. ATM Withdrawals to Cost More
From June 1, the charges for withdrawing money from ATMs may increase.
After using up the free withdrawal limit, you may have to pay higher per-transaction fees. To avoid extra costs, plan your ATM visits wisely.
4. LPG Cylinder Prices May Change
LPG prices are revised on the 1st of every month. On June 1, the cost of cooking gas may go up or down, which will affect your household budget—especially for families using subsidized cylinders.
5. Fixed Deposit (FD) Rates May Drop
The RBI meeting on June 6 may bring a repo rate cut. If that happens, banks may reduce FD interest rates further.
Big banks like SBI, HDFC, ICICI, and Axis have already cut FD rates recently. A repo rate cut could lead to another round of reductions.
6. New GST Invoice Rules
The GST Network (GSTN) is introducing a key change from June 1:
Invoice numbers will no longer be case-sensitive
That means abc, ABC, and Abc will be treated as the same
All invoice numbers will be automatically converted to UPPERCASE
This change will help avoid duplicate invoice issues and improve consistency in billing.
Final Tip:
These changes will affect everyday transactions, savings, and expenses.
Stay alert, review your financial habits, and adjust your plans accordingly to avoid unnecessary losses or confusion.
