New Financial Rules Take Effect: What Changes for Consumers in July 2025

Image Source: Outlook Money

A series of important financial rule changes have come into force this July, impacting how you book train tickets, use ATMs, and resolve UPI payment disputes. Here’s a clear breakdown of what’s new and how it affects you:

Key Highlights

Aadhaar-OTP Now Mandatory for Tatkal Bookings
From July 1, 2025, you must link your Aadhaar to your IRCTC account to book Tatkal train tickets online.
Starting July 15, 2025, an OTP sent to your Aadhaar-linked mobile number is required to complete any Tatkal booking—whether online, at railway counters, or through agents.
Agents are barred from booking Tatkal tickets during the first 30 minutes of the booking window for both AC (10:00–10:30 AM) and non-AC (11:00–11:30 AM) classes, giving regular passengers a fairer chance.

Revised ATM Charges

Effective May 1, 2025, ATM withdrawal charges have increased from ₹21 to ₹23 per transaction after you exceed your free monthly limit.
The number of free transactions remains unchanged: typically 5 at your own bank’s ATMs and 3–5 at other banks’ ATMs, depending on your location and account type.
These changes apply across major banks, including Axis and ICICI, and are meant to offset rising operational costs.

Simplified UPI Chargeback Process

From July 15, 2025, banks can now directly reprocess genuine UPI chargeback disputes that were previously declined due to system limits, without waiting for approval from the National Payments Corporation of India (NPCI).
This update is expected to speed up refunds and make the dispute process more user-friendly, especially for customers who hit the cap on chargeback requests.

The move aims to boost trust and efficiency in digital payments as UPI usage continues to grow.

Source: Economic Times, Indian Express, Business Today, CNBC TV18