As we approach July, significant financial changes are on the horizon, affecting various facets of our economic landscape. From crucial Lok Sabha election results to impending income tax return deadlines and revisions in credit card policies, staying informed is paramount for making informed financial decisions. The ongoing Lok Sabha session will shape the political landscape, influencing economic policies and market sentiments. Simultaneously, taxpayers must prepare for the impending deadline for filing income tax returns, ensuring compliance, and avoiding penalties.
Moreover, revisions in credit card policies, including changes in reward points and transaction fees, will affect cardholders nationwide. These adjustments underscore the importance of staying updated with financial news to navigate the evolving financial environment effectively.
As July approaches, keeping abreast of these developments will empower individuals to plan strategically and secure their financial future proactively.
Here are the key financial deadlines and rule changes set for July 2024:
Paytm wallet closure
Paytm Payments Bank will close inactive wallets with nil balances and no transactions since July 20, 2024. Users will receive a 30-day notice before closure.
SBI card reward points update
Effective July 1, 2024, SBI Card will cease reward points accrual on government-related transactions for specific credit cards. This change will apply from July 15, 2024.
ICICI Bank credit card revisions
From July 1, 2024, ICICI Bank will adjust various credit card charges, including increasing the card replacement fee to Rs 200 (except for Emerald Private Metal Credit Card).
ITR filing deadline
The deadline for filing Income Tax Returns (ITR) for FY 2023–24 (AY 2024–25) is July 31, 2024, with a provision for delayed filing until December 31, 2024.
PNB Rupay Platinum Debit Card lounge access
Starting July 1, 2024, PNB Rupay Platinum Debit Cardholders will have revised lounge access: 1 domestic lounge per quarter and 2 international lounges per annum.
Citibank Credit Card migration
Citibank will complete the migration of all customer relationships, including credit card accounts, to Axis Bank by July 15, 2024, as notified to Citibank credit cardholders.
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