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From August 1, NPCI will limit UPI balance checks and set fixed autopay slots. RBI extends call money and repo market hours.
Key financial changes in UPI, SBI’s air insurance, trading hours and more from August 01.
Financial Changes Effective From Aug 01: Starting August 01, several changes in the financial domain, ranging from digital payment, credit cards, to the trading market will come into effect. Some of these changes will directly impact you, making it harder for you to avoid them.
Changes In UPI From August 01
The regulating authority of UPI, the National Payments Corporation of India (NPCI), has announced a set of regulatory changes in the predominant digital payment platform. These changes are aimed at making UPI more dependable, seamless, and less prone to disruptions, particularly during peak hours.
The new API usage rules for all banks and payment apps—including updates to AutoPay and balance check features—will come into effect from next month.
UPI users will only be able to check their account balance 50 times in a day, from the limitless times as of now.
NPCI has set fixed time slots for UPI autopay transactions. Instead of being processed randomly during the day, payments like subscriptions, EMIs, and utility bills will now be handled at specific times. While the change happens in the background, it’s expected to improve platform speed and ease congestion.
Moreover, users can check transaction status up to 3 times with a minimum gap of 90 seconds.
Changes In Trading Hours
The Reserve Bank of India (RBI) has announced an extension in trading hours for the call money, market repo, and Tri-Party Repo (TREPs) markets in a two-phase rollout starting July 1, 2025.
From July 1, the call money market will operate from 9:00 am to 7:00 pm. In the second phase, effective August 1, 2025, the trading hours for market repo and TREPs will be extended, with the new timings set from 9:00 am to 4:00 pm.
SBI Changes Credit Card Rules
The State Bank of India has announced that it will discontinue the complimentary air accident insurance cover currently offered on several co-branded credit cards. The change will impact cardholders of both ELITE and PRIME variants across multiple partner banks.
Discontinued: Rs 1 Crore Air Accident Insurance
The following cards will no longer offer the Rs 1 Cr air accident insurance:
- UCO Bank SBI Card ELITE
- Central Bank of India SBI Card ELITE
- PSB SBI Card ELITE
- KVB SBI Card ELITE
- KVB SBI Signature Card
- Allahabad Bank SBI Card ELITE
Discontinued: Rs 50 Lakh Air Accident Insurance
The following cards will no longer offer the Rs 50 Lakh air accident insurance:
- UCO Bank SBI Card PRIME
- Central Bank of India SBI Card PRIME
- PSB SBI Card PRIME
- KVB SBI Card PRIME
- Karur Vysya Bank SBI Platinum Credit Card
- South Indian Bank SBI Card PRIME
- South Indian Bank SBI Platinum Credit Card
- Karnataka Bank SBI Card PRIME
- Karnataka Bank SBI Platinum Credit Card
- City Union Bank SBI Card PRIME
- Allahabad Bank SBI Card PRIME
- UBI SBI Platinum Credit Card
- OBC SBI Visa Platinum Card
- Federal Bank SBI Platinum Credit Card
- Bank of Maharashtra SBI Platinum Credit Card (BOM SBI Platinum)
Revision In Gas Cylinder Price
Oil marketing companies have revised the prices of commercial LPG gas cylinders. The rate of 19 kg commercial LPG gas cylinders has been reduced by Rs 33.50, effective from August 1.
In Delhi, the new price of a 19 kg cylinder is Rs 1,631.5, down by Rs 33.5 from July. In Kolkata, the price has fallen to Rs 1,734.5 after a Rs 34.5 cut. Mumbai now charges Rs 1,582.5 following a Rs 34 reduction, while Chennai prices are down by Rs 34.5 to Rs 1,789.
Meanwhile, there has been no change in the price of the 14.2 kg domestic LPG cylinder.
SEBI’s mutual funds overhaul proposal
The Securities and Exchange Board of India (SEBI) has proposed a significant overhaul of mutual fund scheme categorisation and rationalisation norms. The draft circular aims to enhance investor clarity, reduce portfolio overlaps, and encourage product innovation.
Under the proposed changes, asset management companies (AMCs) will be allowed to launch a second scheme in the same category if the existing scheme is over five years old and has assets under management (AUM) exceeding Rs 50,000 crore. The new scheme must share similar investment objectives and asset allocation as the original fund but will require a separate information document. Additionally, the existing scheme will stop accepting new subscriptions once the second scheme is introduced. SEBI has invited public feedback on the draft until August 8, 2025.
Changes to NeuCoins expiry rules on HDFC Tata Neu Infinity Credit Card
From August 1, 2025, NeuCoins earned on the HDFC Tata Neu Infinity Credit Card will follow a new expiry policy. Coins earned each month will now expire one year from the month they are credited, with every month’s earnings carrying a separate expiry date. For instance, NeuCoins earned on August 5, 2025, will expire on August 31, 2026.
All NeuCoins earned before August 1, 2025, will expire on July 31, 2026, regardless of when they were originally earned. This marks a change from the earlier system, where NeuCoins did not expire as long as the card was in regular use.
Spend smartly this festive season
India’s festive season is just around the corner, starting in August with Raksha Bandhan, followed by Independence Day, Krishna Janmashtami, and Ganesh Chaturthi. During this time, e-commerce platforms, retail chains, and local stores are expected to launch a wave of festive offers and discounts.
To shop smart and avoid debt traps, it is advisable to set a budget, track expenses, and plan purchases with a gift list to prevent impulse buys. Redeeming reward points and using partner bank cards can help you maximise cashbacks and discounts. However, buyers should exercise caution with zero-cost EMIs and bulk purchases, which can lead to unnecessary debt.
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
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