Latest Credit Card & Banking Updates - Feb2025 | Offers, Changes & New Launches

Axis Bank My Zone Credit Card - Lifetime Free Offer

Axis Bank is now offering the My Zone Credit Card as a lifetime free card under a limited-period offer. The card, which typically carries an annual fee of ₹500, is now available for free.

Key Benefits:

• Introductory Perk: Complimentary SonyLiv annual membership worth ₹1,499.

• Rewards: 4 Edge Rewards per ₹200 spent.

• Dining Offers: Flat ₹120 off on Swiggy orders of ₹500+ and 20% off at select restaurants.

• Movie Benefits: Up to 100% discount (max ₹200) on the second ticket via the District app (Use Code: "AXIS200").

• Lounge Access: One complimentary domestic lounge access per quarter on spending ₹50,000 in the previous quarter.

Kiwi Credit Card - Upgrade to Yes Bank Kiwi Card

Kiwi Axis Credit Card holders can now upgrade to the Kiwi Yes Bank Credit Card.

Upgrade Benefits:

• Complimentary Kiwi Neon Membership for the first year.

• Earn up to 5% cashback on eligible transactions.

HDFC Business Regalia Credit Card Updates (Effective April 1, 2025)

Existing Benefits:

• 4 Reward Points per ₹150 spent on retail transactions.

• Up to 15,000 Bonus Reward Points for annual spends of ₹8 Lakhs.

• 6 Complimentary International Lounge Accesses via Priority Pass annually.

Revised Benefits:

• Domestic Lounge Access: 2 complimentary lounge visits per quarter after spending ₹1 Lakh in the previous quarter.

• Retiring Insurance Benefits (Effective April 1, 2025):

  • Air Accidental Death Cover: Up to ₹1 Crore.

  • Emergency Overseas Hospitalization Protection: Up to ₹15 Lakhs.

  • Flight Delay Cover: Up to ₹25,000.

  • Missed Connecting International Flight Cover: Up to ₹25,000.

IDFC FIRST Bank Credit Card Updates (Effective Feb 20, 2025)

• Statement Date: Standardized to the 20th of each month.

• Fuel Fee: 1% fee applicable if monthly spends exceed ₹30,000.

• Railway Lounge Access: Requires minimum monthly spends of ₹20,000 in the previous month.

• Add-On Cards: New add-ons will have a joining fee of ₹499 + taxes.

• Card Replacement Fee: ₹199 + taxes, applicable to all replacements including Image Personalization (some exemptions apply).

American Express Credit Cards - Tata CLiQ Offer (Valid till April 25, 2025)

• Tata CLiQ Luxury: 10% off on spends ₹7,500+ (Max ₹1,500) & 15% off on EMI transactions of ₹10,000+ (Max ₹2,500).

• Tata CLiQ Fashion: 10% off on spends ₹3,000+ (Max ₹1,500) & 15% off on EMI transactions of ₹5,000+ (Max ₹2,000).

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SBI Cashback Credit Card Apply Link - Click Here
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IDFC First Credit Card Apply Link - Click Here

HSBC TravelOne Credit Card Launched

• 4 Reward Points/₹100 on flights, travel platforms, and international spends (~4% reward rate).

• 2 Reward Points/₹100 on all other eligible spends (~2% reward rate).

• 6 domestic and 4 international lounge visits per year.

Marriott Bonvoy 2025 Offer - Double Elite Nights & Bonus Points

• Earn 1,000 bonus points and 1 bonus elite night credit per paid night.

• Offer valid from February 11, 2025 - April 28, 2025.

• Registration required before booking.

HSBC Expands with 20 New Branches in India

RBI has approved HSBC's expansion into 20 cities, including Amritsar, Indore, Lucknow, and Vadodara.

Upcoming Air India Co-Branded Credit Cards

Speculation is growing about Air India launching co-branded credit cards with IDFC First Bank and Axis Bank.

Yes Bank 5X Reward Points on Insurance Payments (Jan 1 - Mar 31, 2025)

• Minimum Transaction: ₹5,000.

• Maximum Reward Points: 5,000.

• Registration-Based Offer: For notified customers only.

• Reward Posting: Bonus points credited within 60 days post-offer period.

RBI Injects ₹40,000 Crore into Banking System

To address liquidity concerns, RBI has conducted two major operations:

• ₹30,760 crore via an overnight VRR auction at 6.51%.

• ₹9,892 crore through a government securities buyback.

Despite these measures, banking liquidity remains under strain, with a deficit of ₹2.2 lakh crore as of January 2025.

Supreme Court Appeal on Lending Rules

Banks plan to challenge a ruling restricting loans against properties lacking Completion Certificates (CC) or Occupancy Certificates (OC).

Government to Reduce Stake in 5 State-Run Banks

The government plans to reduce its holdings in:

• UCO Bank

• Central Bank of India

• Indian Overseas Bank

• Bank of Maharashtra

• Punjab and Sind Bank

IndusInd Bank Discontinues InterMiles Conversion

Starting January 21, 2025, IndusInd Bank will no longer offer reward point conversions to InterMiles.

SEBI’s New Nomination Rules for Mutual Funds (Effective March 1, 2025)

Investors can now nominate up to 10 individuals.

8th Pay Commission Announced

• The commission will benefit over 1 crore central government employees and pensioners.

• Implementation anticipated by 2026, aligning with the 10-year cycle of previous commissions.

EPFO Introduces ATM Withdrawals (Jan 2025)

• UAN linking & OTP verification required.

• Instant cash withdrawal enabled.

Union Budget 2025 - Key Highlights

• FDI in Insurance: Increased from 74% to 100%.

• Income Tax Rebate Limit: Raised from ₹7 lakh to ₹12 lakh.

• New Tax Slabs:

  • ₹0-4 lakh: Nil

  • ₹4-8 lakh: 5%

  • ₹8-12 lakh: 10%

  • ₹12-16 lakh: 15%

  • ₹16-20 lakh: 20%

  • ₹20-24 lakh: 25%

  • Above ₹24 lakh: 30%