India and Bangladesh roll out consumer financial rule changes on July 1

From 1 July, both India and Bangladesh are introducing a series of regulatory adjustments that will affect everyday consumers. In India, the income‑tax filing deadline for ITR‑1 and ITR‑2 forms is extended to 31 July for the fiscal year 2025‑26, with penalties for missed deadlines. The UIDAI will waive the ₹75 fee for updating the email address linked to Aadhaar cards until 31 December, offering the service free for six months. Credit‑card reward programs are being altered: SBI’s PhonePe cards will see new point‑earning limits, while HDFC cards will grant three free domestic airport lounge accesses per quarter. The Ministry of External Affairs has raised service fees for ordinary and urgent passports, and the Reserve Bank of India has issued new rules to curb the mis‑selling of financial products, promising refunds and compensation to affected customers.

In Bangladesh, similar consumer‑impact measures will take effect on the same date. LPG cylinder prices will be reviewed, potentially changing retail rates after a recent rise in commercial cylinder costs. Credit‑card terms are set to be revised, and several automobile manufacturers plan price increases for new vehicles. Additionally, the UIDAI will provide free updates to Aadhaar records for six months, eliminating the previous ₹75 charge.