SBI withdraws air accident insurance benefits
Major Credit Card Rule Changes July 2025: State Bank of India (SBI) has announced major revisions effective July 15, 2025, including the discontinuation of complimentary air accident insurance on several cards.
Premium cards like SBI Card Elite, Miles Elite, and Miles Prime will no longer provide the ₹1 crore air accident insurance benefit.
Similarly, SBI Card Prime and Pulse will lose the ₹50 lakh insurance cover.
Cardholders must review their insurance coverage and consider alternative options before this benefit ceases.
SBI payment structure and billing changes
Apart from insurance, SBI is modifying its minimum due calculations and payment settlement hierarchy.
These changes may affect interest computation, making it important for users to carefully examine their billing statements.
Static GK fact: SBI Card was launched in 1998 as a joint venture between SBI and GE Capital; currently, it’s listed on the NSE and BSE.
HDFC Bank introduces new transaction fees
HDFC Bank, effective July 1, 2025, is imposing a 1% fee on select high-frequency transactions. The monthly cap is ₹4,999.
The fee applies to:
- Online gaming
- Digital wallet top-ups
- Utility bill payments above ₹50,000 (consumer cards) and ₹75,000 (business cards)
This is part of HDFC’s effort to align its reward ecosystem with transaction costs.
HDFC limits reward point earnings
Major changes in reward point accumulation have been declared by HDFC Bank.
- Infinia Card: Max 10,000 points/month
- Diners Black Card: Max 5,000 points/month
- Other cards: Mostly capped at 2,000/month
- Marriott Bonvoy Card: No cap imposed
Also, no reward points will be given for gaming-related spending, affecting users in that category.
Static GK Tip: HDFC Bank is the largest private sector bank in India by market capitalization.
Kotak to discontinue Myntra Credit Card
From July 10, 2025, Kotak Mahindra Bank will discontinue its Myntra co-branded credit card and replace it with the Kotak League Credit Card.
Users will be automatically migrated, but there may be differences in:
- Reward categories
- Cashback rates
- Merchant partnerships
The switch may reduce Myntra-specific benefits, so regular shoppers must assess the new reward structure.
Static GK fact: Kotak Mahindra Bank became a scheduled commercial bank in 2003, the first Indian NBFC to do so.
Static Usthadian Current Affairs Table
Major Credit Card Rule Changes July 2025:
| Topic | Detail |
| SBI Card Insurance | Discontinued from July 15, 2025 |
| SBI Cards Affected | Elite, Miles Elite, Prime, Pulse |
| HDFC Fee Introduction | 1% fee capped at ₹4,999/month |
| HDFC Cards Affected | Infinia, Diners Black, others |
| Reward Point Cap | Infinia: 10,000; Diners: 5,000 |
| Exempted Card | Marriott Bonvoy |
| Kotak Credit Card Change | Myntra card to be replaced with League card |
| Kotak Change Date | July 10, 2025 |
| Digital Wallet Fee | Introduced by HDFC from July 2025 |
| Utility Bill Fee | HDFC: Charges above ₹50K–₹75K depending on card type |
