Three Major Changes in August 2025 You Should Know; New ICICI Bank Rules, FASTag Annual Pass, and Other
Three Major Changes in August 2025 You Should Know: New ICICI Bank Rules, FASTag Annual Pass, and Other
Many important updates have come in August. Lets see 3 major changes in August 2025, we all should know.
ICICI Bank increases minimum savings balance limit
ICICI Bank has increased the minimum savings balance limit for urban branches directly by five times. Earlier, the minimum monthly average balance (MAB) for savings bank accounts till July 31, 2025, was Rs. 10,000, and now it has increased directly to Rs. 50,000. Similarly, the bank has increased the minimum monthly average balance (MAB) for semi-rural and rural locations to Rs. 25,000 and Rs. 10,000, respectively. These rules are only applicable to new customers or new accounts opened on or after August 01, 2025, and those customers whose accounts were opened before August 1, 2025, will be required to maintain the earlier set limit. If customers are unable to meet this limit, they will be charged some penal charges of 6% of the shortfall in required MAB, or Rs. 500, whichever is lower.
Annual FASTag Live
The annual pass for FASTag is scheduled to be live on August 15, 2025. The National Highways Authority of India (NHAI) will begin offering the FASTag Annual Pass on Independence Day. This major update is aimed towards making highway travel easier and at affordable rates for frequent travellers. This annual pass will only be applicable to private vehicle owners, including private cars, jeeps, and vans, etc. and not applicable for commercial vehicles. This pass is non-transferable and can only be used on national highways and expressways run by NHAI/MoRTH. After August 15, 2025, the moment your vehicle passes through a FASTag-enabled toll plaza registered under NHAI or MoRTH, the pass will deduct one trip every time, and once your limit of 200 trips or period of one year ends, your pass will automatically be deactivated, and then you will be required to buy a new subscription to enjoy the benefit.
Now, you are eligible to take FASTag’s annual subscription at Rs. 3000, in which you will be given 200 trips in total. That means now one trip will cost you only Rs. 15, for which you earlier needed to pay Rs. 50 – Rs. 60. You can take this FASTag’s annual subscription by visiting the Rajmarg Yatra app or the NHAI/MoRTH official website. FASTag is an electronic device used for performing electronic toll payments using Radio Frequency Identification (RFID) technology.
Revised Income Tax Act 2025 to be reality soon!
Lok Sabha (lower house of parliament) has approved or passed the revised Income Tax Bill 2025; once it is approved or passed by Rajya Sabha and assented to by the president. The aim of this move is to replace the old version of the Income Tax Act 1961 from April 01, 2026. Previously, the bill was withdrawn on August 08, 2025; however, on August 11, 2025, the Select Committee, chaired by Baijayant Panda, reintroduced the bill in Lok Sabha with further amendments in it, and now the bill has finally been approved.