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| Scheme Name | 1-Year Return | Invest Now | Fund Category | Expense Ratio |
|---|---|---|---|---|
| Axis Nifty 50 Index Fund | +32.80% | Invest Now | Equity: Large Cap | 0.12% |
| Axis Nifty 100 Index Fund | +38.59% | Invest Now | Equity: Large Cap | 0.21% |
| Axis Nifty Next 50 Index Fund | +71.83% | Invest Now | Equity: Large Cap | 0.25% |
| Axis Nifty 500 Index Fund | — | Invest Now | Equity: Flexi Cap | 0.10% |
| Axis Nifty Midcap 50 Index Fund | +46.03% | Invest Now | Equity: Mid Cap | 0.28% |
These reforms aim to improve transparency, compliance, and investor protection. Here’s a breakdown of the key changes.
Mutual funds
SEBI has mandated that funds raised through New Fund Offers (NFOs) must be deployed within 30 business days from the date of unit allotment. If AMCs fail to meet this deadline, they can seek a one-time extension of another 30 business days with Investment Committee approval. If funds remain undeployed beyond 60 business days, the AMC must stop fresh inflows, allow penalty-free exits, and notify investors.
SEBI has also introduced Specialised Investment Funds (SIFs), a category between Mutual Funds and Portfolio Management Services (PMS).
These funds offer flexible investment strategies but require a minimum investment of ₹10 lakh. Only AMCs with an AUM of ₹10,000 crore or more over the past three years can launch SIFs.
Another key change is the DigiLocker integration, allowing investors to store and access their Demat and mutual fund holdings statements digitally to prevent unclaimed assets and simplify nominee access.
Unified Pension Scheme (UPS)
From April 1, 2025, the Unified Pension Scheme (UPS) under the National Pension System (NPS) will be implemented for central government employees. The scheme guarantees a pension based on service tenure. Employees with at least 25 years of service will receive 50% of their last 12 months’ average basic salary as a pension.
UPI transactions and mobile number updates
NPCI has mandated that banks and payment service providers (PSPs) update their databases before March 31 to remove recycled or churned mobile numbers. Banks and UPI apps must use the Mobile Number Revocation List (MNRL) available on the Digital Intelligence Platform (DIP) to prevent errors and fraud risks.
If your mobile number has been revoked or surrendered as per Department of Telecommunications (DoT) guidelines, banks and UPI apps may remove it from their records, affecting your UPI access.
Users must ensure their bank account is linked to an active mobile number before April 1 to avoid disruptions.
Credit card benefit revisions
SBI Card will lower reward points on select transactions. SimplyCLICK SBI Cardholders will earn only 5X reward points on Swiggy, down from 10X. However, the 10X reward benefit will continue for Myntra, BookMyShow, and Apollo 24|7.
Air India SBI Platinum Credit Card users will see rewards cut from 15 to 5 points per ₹100 spent on Air India ticket bookings, while the Signature variant will drop from 30 to 10 points.
IDFC First Bank will discontinue milestone benefits for its Club Vistara Credit Card from March 31, 2025. While Maharaja Points can still be earned until March 31, 2026, the card will be phased out, and complimentary benefits such as Silver Membership and Premium Economy ticket vouchers will be discontinued.
Axis Bank will revise its Vistara Credit Card benefits from April 18, 2025, following Vistara’s merger with Air India. Complimentary Maharaja Club tier memberships, welcome vouchers, and milestone ticket vouchers will be removed. Cardholders will still earn Maharaja Points on eligible spending, but transactions such as rent payments, wallet loads, utility bills, and insurance payments will no longer earn rewards.
Income tax changes
The tax exemption slab will be raised from ₹7 lakh to ₹12 lakh under the new regime, benefiting middle-class taxpayers.
New income tax slabs under the revised regime are as follows:
- No tax on income up to ₹4 lakh
- 5% tax on income from ₹4 lakh to ₹8 lakh
- 10% tax on income from ₹8 lakh to ₹12 lakh
- 15% tax on income from ₹12 lakh to ₹16 lakh
- 20% tax on income from ₹16 lakh to ₹20 lakh
- 25% tax on income from ₹20 lakh to ₹24 lakh
- 30% tax on income above ₹24 lakh
Senior citizens will benefit from a higher interest deduction limit, which has been increased from ₹50,000 to ₹1 lakh.
Additionally, the tax deduction limit on rent has been raised from ₹2.40 lakh to ₹6 lakh per year.
The government has also increased the TCS exemption limit on Liberalised Remittance Scheme (LRS) transactions from ₹7 lakh to ₹10 lakh.
GST and e-invoicing updates
From April 1, 2025, businesses with an Annual Aggregate Turnover (AATO) of ₹10 crore or more must upload e-invoices to the Invoice Registration Portal (IRP) within 30 days of issuance. This requirement was previously applicable only to businesses with an AATO of ₹100 crore or more. The new rule ensures real-time invoice tracking, reduces input tax credit (ITC) discrepancies, and enhances tax compliance.