Financial Changes From Aug 01: UPI, Trading Hours, SBI's Air Insurance Among Key Updates
Financial Changes 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.
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.
The following cards will no longer offer the Rs 1 Cr air accident insurance:
The following cards will no longer offer the Rs 50 Lakh air accident insurance:
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Revision In Gas Cylinder Price
OMCs may revise the LPG cylinder prices from August 01 for both domestic and commercial. Oil companies fixes the rates of LGP cylinders on the first day of each month in align with the global prices of crude and other expenses.
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July 31, 2025, 11:57 IST
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