UPI security, ATM rules, LPG prices: Key financial changes from June 1
Synopsis
From UPI fraud safeguards to a ₹42 hike in commercial LPG and a looming advance tax deadline on June 15, a cluster of financial changes landed simultaneously on June 1 — touching digital payments, cash withdrawals, property transactions, and cooking fuel costs for millions of Indians at once.
Key Takeaways
UPI high-value transactions now require extra authentication layers beyond standard PIN verification, effective 1 June 2025 .
UPI-based cardless ATM withdrawals are now counted within banks' monthly free withdrawal limits; excess transactions attract charges.
First instalment of advance tax for FY2026-27 — 15% of estimated liability above ₹10,000 — is due by 15 June 2025 .
Commercial LPG (19-kg cylinder) price in Delhi raised by ₹42 ; domestic LPG prices remain unchanged.
PAN disclosure thresholds revised for cash deposits and property transactions; new reporting rules cover gift deeds and joint development agreements.
EPFO is reportedly testing UPI-based PF withdrawals ; RBI MPC meeting scheduled for 3–5 June 2025 .
Several financial changes affecting consumers and businesses across India came into effect from 1 June 2025, spanning tighter security for Unified Payments Interface (UPI) transactions, revised ATM withdrawal rules, critical advance tax deadlines, updated PAN disclosure norms, and a hike in commercial LPG prices. Together, the changes represent one of the more wide-ranging single-day financial resets for Indian households and enterprises in recent months.
UPI Security and ATM Withdrawal Changes
Under the new UPI framework, high-value transactions are expected to require additional layers of authentication beyond standard PIN-based verification on payment platforms. The move is aimed at reducing fraud exposure as digital payment volumes continue to surge.
On the ATM front, UPI-based cardless cash withdrawals will now be counted within banks' monthly free withdrawal limits. Customers who exceed their free transaction quota could face additional charges — a change that may catch frequent cash users off guard if they rely on cardless withdrawal as a workaround.
Advance Tax Deadline and PAN Rule Revisions
For taxpayers, 15 June is a firm deadline: the first instalment of advance tax for FY2026-27 must be paid by that date. Individuals whose estimated annual tax liability exceeds ₹10,000 are required to pay 15 per cent of that liability by the due date. Missing the deadline will attract interest charges under the Income Tax Act.
Rules around PAN usage have also been revised. PAN may no longer be mandatory for certain cash deposits exceeding ₹50,000, though reporting requirements for higher-value transactions remain in force if total annual cash deposits or withdrawals cross prescribed thresholds. Separately, the threshold for mandatory PAN disclosure on property purchases and sales has been raised, and additional reporting requirements have been introduced for high-value transactions, gift deeds, and joint development agreements.
Commercial LPG Price Hike
State-owned oil marketing companies (OMCs) have raised the price of a 19-kg commercial LPG cylinder in Delhi by ₹42, with similar increases reported in other cities. Prices of 5-kg free trade LPG cylinders have also been revised upward. However, domestic LPG cylinder prices remain unchanged for now, providing some relief to households dependent on subsidised cooking fuel.
EPFO UPI Withdrawal and Fuel Prices to Watch
The Employees' Provident Fund Organisation (EPFO) is reportedly testing a system that would allow employees to withdraw provident fund money directly through UPI. If rolled out, the facility could significantly cut processing time and simplify the withdrawal experience for millions of subscribers. No formal launch date has been confirmed.
Consumers are also being advised to monitor petrol, diesel, and CNG prices closely, as evolving global crude oil movements and ongoing geopolitical developments continue to influence domestic fuel pricing. The Reserve Bank of India's Monetary Policy Committee (MPC) is scheduled to meet between 3 June and 5 June, with its rate decision likely to set the tone for credit and borrowing costs in the near term.
Point of View
Tighter digital payment friction, revised ATM accounting, and a tax deadline within a fortnight. The EPFO-UPI pilot, if it delivers, would be the rare consumer-friendly item in the bundle — but it remains unconfirmed. The RBI MPC meeting on June 3–5 will determine whether the macro backdrop tightens further. Policymakers appear to be normalising multiple compliance thresholds at once; the risk is that low-awareness segments — small traders, informal workers — face penalties not from intent but from information gaps.
NationPress
10 Aug 2026
Frequently Asked Questions
What UPI security changes came into effect from June 1, 2025?
From 1 June 2025, high-value UPI transactions are expected to require additional authentication steps beyond the standard PIN, adding a layer of fraud protection for larger digital payments. The exact thresholds for 'high-value' have not been publicly specified by regulators as of the announcement.
How do the new ATM withdrawal rules affect customers?
UPI-based cardless cash withdrawals are now counted within a bank's monthly free ATM withdrawal limit. Customers who previously used cardless UPI withdrawals as a separate channel may now exhaust their free quota faster and incur charges on subsequent transactions.
When is the advance tax deadline for FY2026-27?
The first instalment of advance tax for FY2026-27 is due on 15 June 2025. Taxpayers whose estimated annual tax liability exceeds ₹10,000 must pay 15 per cent of that amount by the deadline or face interest charges under the Income Tax Act.
By how much have commercial LPG prices increased from June 1?
The price of a 19-kg commercial LPG cylinder in Delhi has been raised by ₹42, with similar hikes in other cities. Prices of 5-kg free trade LPG cylinders have also increased, though domestic LPG cylinder prices remain unchanged.
What are the revised PAN rules for cash deposits and property transactions?
From June 1, PAN may no longer be mandatory for certain cash deposits exceeding ₹50,000, though annual reporting requirements still apply if total deposits or withdrawals cross prescribed thresholds. The PAN disclosure threshold for property purchases and sales has also been raised, and new reporting rules cover high-value transactions, gift deeds, and joint development agreements.
