Big Financial Changes From August 1: UPI Rules, Fuel Prices, Credit Card Insurance — How It Affects Your Pocket
Big Financial Changes From August 1: UPI Rules, Fuel Prices, Credit Card Insurance — How It Affects Your Pocket
Key updates in UPI usage, fuel pricing, and banking services from August 1, 2025, could impact everyday expenses and financial planning.
From August 1, 2025, several important financial changes will come into effect that could significantly affect consumers across India. These include modifications to UPI usage rules, possible fluctuations in fuel prices, and the discontinuation of free insurance benefits on some SBI credit cards. Here’s what you need to know:
1. New UPI Rules by NPCI
The National Payments Corporation of India (NPCI) is introducing a set of changes aimed at improving the speed, stability, and security of UPI platforms such as PhonePe, Google Pay, and Paytm. According to NPCI’s circulars issued in April and May 2025, the focus is on reducing unnecessary load on servers and optimizing system efficiency.
Key UPI Changes:
- Balance Check Limit: Users can check their account balance only 50 times per day per app. Using multiple apps gives separate limits.
- Transaction Status Check: You can check the status of a pending transaction only 3 times, with a minimum 90-second gap between attempts.
- AutoPay Window: Scheduled AutoPay transactions will be processed only during three time slots — before 10 AM, between 1 PM and 5 PM, and after 9:30 PM.
- Linked Bank Account View: Users can view their linked bank accounts only 25 times a day per app.
- Payment Reversals: A maximum of 10 reversal requests can be raised in 30 days, with 5 per sender.
- Beneficiary Name Display: Before confirming a UPI payment, the recipient’s registered bank name will now be shown to minimize fraud and wrong transfers.
- Compliance & Penalty: NPCI will monitor banks and UPI apps for compliance. Non-adherence could attract penalties or restrictions.
2. Fuel Price Changes Expected
- LPG Cylinder Prices: The government will review domestic and commercial LPG cylinder prices on August 1. There are expectations of a possible reduction, especially for domestic cylinders, after a Rs 60 cut in commercial LPG last month.
- CNG and PNG Prices: Prices have remained unchanged since April 9, but a revision is expected. Any hike would impact transportation and household cooking expenses.
- Aviation Turbine Fuel (ATF): If ATF prices rise, airline ticket costs could increase. Travelers are advised to book flights early to avoid last-minute price surges.
3. SBI to Discontinue Free Air Accident Insurance
Starting August 11, 2025, the State Bank of India (SBI) will withdraw free air accident insurance on several of its co-branded credit cards.
- Earlier, Elite and Prime SBI cards offered accident coverage of ₹50 lakh to ₹1 crore during air travel, in partnership with UCO Bank, Central Bank, Karur Vysya Bank, and Allahabad Bank.
- This benefit will now be discontinued, affecting frequent flyers who relied on this complimentary protection.
These changes, ranging from digital payment limits to rising travel costs and reduced insurance cover, highlight the importance of staying updated and adapting financial habits accordingly. Whether you’re booking flights, paying digitally, or managing household budgets, plan ahead to avoid unexpected disruptions.
