New rules from August 1: From FASTag, SBI Credit Cards, to UPI limit changes you should know
Here's a quick look at key changes taking effect this August:
FASTag Annual Pass Starting August 15, 2025, private vehicle owners will be able to opt for a new FASTag annual pass introduced by the Ministry of Road Transport & Highways. This pass will allow up to 200 toll transactions or be valid for one year, whichever comes first, for Rs 3,000. The initiative aims to simplify toll payments and offer more cost-effective options for frequent highway users.
FASTag annual pass: How to activate it in your existing FASTag account? Check how to purchase, validity and more Note that the annual pass is not mandatory; the current FASTag ecosystem will continue to function as it does now. Users who do not opt for the annual pass can continue to use their FASTag for regular transactions in accordance with the relevant user fee rates at fee plazas. SBI credit card changes in August Starting August 11, 2025, SBI Card will discontinue the complimentary air accident insurance benefit on several of its co-branded credit cards. This move will affect holders of premium variants such as ELITE and PRIME, along with select Platinum cards. The withdrawal includes high-value insurance covers of Rs 1 crore and Rs 50 lakh, which were earlier provided as added perks.
These SBI Card holders to lose complimentary air accident insurance benefit from August 11, 2025-Are you affected? UPI changes in August The National Payments Corporation of India (NPCI) has introduced several changes in the Unified Payments Interface (UPI) ecosystem, with an aim to improve the performance of UPI transactions. NPCI has issued an additional set of guidelines for UPI ecosystem members, which includes limiting balance inquiry requests to regulating the use of APIs such as Autopay Mandate Execution and Validate Address.
Read more: New UPI rules from August 1: Daily balance checks, autopay & API usage now regulated, here's how Paytm, PhonePe, GPay users will be impacted Punjab National Bank's KYC update Punjab National Bank (PNB), the second-largest state-owned lender in the country, has asked its customers to update their Know Your Customer (KYC) information in their bank accounts before August 8, 2025, to ensure the smooth functioning of their bank accounts. This KYC update is in accordance with the Reserve Bank of India's (RBI) guidelines, as per a press release from PNB. Note that the last date of August 8, 2025, to update their KYC applies to those customers whose accounts have KYC updation pending as of June 30, 2025, according to the bank press release.
N.R. Narayana Murthy
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Harsh Mariwala
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Adar Poonawalla
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Puneet Dalmia
Managing Director, Dalmia Bharat group Watch Now
Martin Schwenk
Former President & CEO, Mercedes-Benz, Thailand Watch Now
Nadir Godrej
Managing Director, of Godrej Industries Watch Now
Manu Jain
Former- Global Vice President, Xiaomi Watch Now
Nithin Kamath
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