Top personal finance changes from June 1: SEBI mutual fund rules to credit card fees and more

Every new month brings financial changes that have an impact on a common man’s wallet. Starting June 1, 2025, several financial changes are set to roll out, from SEBI’s mutual fund rules to credit card changes. These financial updates are important for both investors and consumers.

Let’s have a look at the significant personal finance changes that will become effective from June 1.

SEBI rules for mutual funds

The Securities and Exchange Board of India recently announced a change in overnight mutual fund schemes. Starting June 1, the cut-off timing for purchasing these schemes will change to make it easier to manage how client funds are moved using pledges.

The new cut-off timings are 3 PM for offline transactions and 7 PM for online transactions. This means that transactions made after the revised cut-off timings will now be processed on the next business day and could impact the applicable Net Asset Value (NAV) of the scheme.

These overnight mutual funds are very short-term debt instruments that invest in risk-free government securities maturing within 24 hours. They serve as a safe and highly liquid investment option, helping manage client money securely.

The change is aimed at enhancing the efficiency of these funds, especially for pledging-related operations.

Credit card changes

At the start of every month, many credit card providers change their fees, rewards, and other rules. Many changes are expected from June 1 as well.

Kotak Mahindra Bank has announced that from June 1, many changes will come into effect for its credit cards. Some important ones are the following:

• New caps have been introduced on reward points earned on several spending categories, including utility bill payments, fuel, rent, insurance premiums, rent, etc.

• A 1% fee would be applied on fuel payments after a cardholder exceeds the total fuel spending limit within a statement cycle. This fee does not apply to certain Kotak cards: White Reserve Credit Cards, Kotak Solitaire, Kotak Infinite, Kotak Signature, IndianOil Kotak Credit Cards, or Myntra Kotak Credit Cards.

• Redemption values of reward points have also been reduced across many Kotak cards.

• A transaction fee of 1% would be applicable on rent and education regardless of the amount spent. Further, a 1% fee would be charged on utility, wallet loads, online gaming, and fuel after crossing the spending thresholds in a statement cycle.

LPG cylinder prices

Every month, revised LPG cylinder prices are announced. New prices for LPG cylinders may be announced on June 1 as well. Any fluctuation in the price of an LPG cylinder impacts Indian households.

In May, commercial LPG prices were slashed. Oil marketing companies announced prices on May 1, reducing them by ₹14.5 per cylinder (19 kg). In Delhi, the price for a 19 kg commercial LPG cylinder was ₹1,747.50, while in Mumbai it was ₹1,699.

Fixed Deposit interest rates

Apart from the above changes, the month of June is expected to see many other developments.

The grievance redressal system of the EPFO is also anticipated to get better with the launch of the updated version.