From ITR deadline to Aadhaar and credit cards: 6 financial changes coming in July 2026

Several important financial and banking-related changes are set to take effect in July 2026. These updates could impact taxpayers, Aadhaar holders, passport applicants and credit card users. Being aware of these changes can help you avoid unnecessary charges, meet important deadlines and make better financial decisions.

1. ITR filing deadline

Individuals filing ITR-1 or ITR-2 for the Financial Year 2025-26 (Assessment Year 2026-27) must submit their income tax returns by July 31, 2026.

2. Aadhaar email update becomes free

From July 1 to December 31, 2026, the Unique Identification Authority of India (UIDAI) will allow Aadhaar holders to update their registered email address through the Aadhaar mobile app without paying the usual ₹75 fee.

This temporary waiver is aimed at encouraging users to keep their Aadhaar details updated.

3. Passport application charges revised

Applying for a passport will become more expensive from July 1. The Ministry of External Affairs has revised service charges for both normal and Tatkaal passport applications in India and abroad. Applicants are advised to check the updated fee structure before applying.

4. RBI rules against mis-selling

The Reserve Bank of India (RBI) has introduced a new framework to curb the mis-selling of financial products by banks.

Under this framework, customers who are sold unsuitable financial products may be eligible for refunds and compensation for any losses incurred, strengthening consumer protection.

5. SBI Card reward programme changes

The SBI Card has officially announced changes to its rewards structure for select PhonePe SBI Credit Cards, including the PhonePe SBI Credit Card PURPLE and PhonePe SBI Credit Card SELECT BLACK, effective from July 1.

According to SBI Card’s official customer notice, the revision includes:

Introduction of revised monthly reward point caps Expansion of transaction categories that will not earn reward points

These changes are aimed at refining the reward structure and will directly impact how cardholders accumulate reward points on spending.

6. HDFC Bank credit card lounge access changes

HDFC Bank has updated lounge access benefits for select credit cards effective July 1.

The revised structure is applicable to select credit cards and is intended to align benefits with usage patterns.