🗓️ Big Changes from July 1: Aadhaar-PAN Linkage, Tax Deadline Extended, New Bank Fees
Starting July 1, several financial and regulatory changes will come into effect in India:
🔷 Mandatory Aadhaar for New PAN Applications
The Central Board of Direct Taxes (CBDT) has mandated Aadhaar verification for all new PAN card applications, reinforcing efforts to improve tax compliance and digital integration. Until now, a valid ID and birth certificate were enough to apply.
🔷 ITR Filing Deadline Extended
In relief for taxpayers, the ITR filing deadline for AY 2025–26 has been extended from July 31 to September 15, giving an extra 46 days to file.
🔷 Revised Credit Card & Banking Charges
- SBI Card: From July 15, complimentary air accident insurance on premium cards like ELITE and PRIME will be discontinued. SBI will also revise how the Minimum Amount Due (MAD) is calculated to now include EMIs, GST, and fees.
- HDFC Bank: A 1% fee will be levied on rent payments, wallet reloads over ₹10,000, utility bills above ₹50,000, and gaming spends over ₹10,000.
- ICICI Bank: Also revising various charges, in line with growing trends of monetizing digital transactions.
🏺 4,500-Year-Old Civilisation Found in Rajasthan Linked to Saraswati River
A major archaeological discovery has been made in Bahaj village, Deeg district (Rajasthan), where the ASI has unearthed a 4,500-year-old settlement believed to be connected to the mythical Saraswati river.
🗿 Excavation revealed five cultural layers:
- Harappan post-period
- Mahabharata era
- Mauryan, Kushan, and Gupta periods
📜 Over 800 artefacts were found, including:
- Pottery and Brahmi-script seals
- Yajna Kunds (fire altars)
- Idols of Shiva and Parvati
- Ancient tools and copper coins
This discovery adds to growing evidence of ancient civilizations thriving along the lost Saraswati river basin.
🇮🇳🤝🇺🇸 India Races to Finalize Trade Deal with U.S. Before July 8
With just days left before the U.S. imposes reciprocal tariffs (up to 26% on Indian imports) starting July 9, India is pushing to seal a mini trade deal. Key sticking points include:
- U.S. tariffs on Indian goods
- India's restrictions on GM crops and dairy imports
A team of Indian negotiators has been in Washington for final talks to avoid a trade escalation that could significantly impact bilateral commerce.
🏆 Zara Chowdhary Wins Final Shakti Bhatt Prize for ‘The Lucky Ones’
Chennai-based author Zara Chowdhary has been awarded the 2025 Shakti Bhatt Prize for her work “The Lucky Ones.” A writer, producer, and educator, Chowdhary’s recognition marks the final year of the prestigious literary award, which has honored rising South Asian authors for the past 17 years.
📈 India Posts $13.5 Billion Current Account Surplus in Q4 FY25
India’s current account registered a surplus of $13.5 billion (1.3% of GDP) in Q4 FY25, a major turnaround from a $11.3 billion deficit in the previous quarter. The surplus reflects strong services exports and robust capital inflows, as per the RBI.
♟️ Praggnanandhaa Wins UzChess Masters, Becomes India’s Top-Ranked Player
Grandmaster R. Praggnanandhaa clinched the UzChess Cup Masters 2025 in Tashkent, reaching a career-high live rating of 2778.3, making him world No. 4 and officially India’s top-ranked chess player. The 19-year-old continues to cement his legacy in global chess.
💧 Khandwa Leads India in Water Conservation
Khandwa district in Madhya Pradesh has emerged as India’s top performer in water conservation. Through coordinated efforts by locals and authorities, the once-dry Ghoda Pachaad river, a tributary of the Narmada, has been revived. Meanwhile, MP ranked 4th among Indian states in overall water management.
