Overview

• SEBI has set new cut-off times for overnight mutual fund schemes at 3 pm for offline orders and 7 pm for online orders, with late transactions processed the next business day.
• Kotak Mahindra Bank capped reward points and imposed a 1% surcharge on fuel payments above monthly thresholds while HDFC and Axis Bank adjusted lounge access and reward structures for premium cards.
• EPFO 3.0 launched with instant PF withdrawals via ATMs and UPI, simplified KYC updates through UPI apps, and accelerated claim processing.
• Suryoday Small Finance Bank and others cut fixed deposit rates by up to 60 basis points on deposits below ₹3 crore, and LPG cylinder prices were updated under the routine monthly revision.
• NPCI’s new rule requires all UPI apps to display verified beneficiary names by June 30, replacing unverified labels to curb misdirected payments and fraud.