Latest news with #PhonePe
India Today
a day ago
- Business
- India Today
UPI rules update on August 1: New limits, autopay timings and all you need to know
From August 1, 2025, a fresh set of UPI rules will come into effect, and if you're someone who regularly uses apps like Paytm, PhonePe, GPay or any other UPI platform, you'll want to know what's changing. The National Payments Corporation of India (NPCI), which oversees the UPI ecosystem, is introducing these new limits to ease pressure on the system and reduce issues like payment delays and failed transactions. These changes may not affect how you pay at your local grocery store, but they do place limits on things like balance checks, status refreshes, and more. NPCI says the goal is to make UPI smoother, more reliable, and less prone to outages, especially during peak hours. Here's everything you need to know about the upcoming UPI are the new UPI transaction limits from August 1?From next month, UPI users will only be able to check their account balance 50 times per day. Similarly, the number of times a user can view the bank accounts linked to their phone number will be limited to 25 times a day. These new caps are being added to cut down on unnecessary traffic on the system, something NPCI claims contributes to slowdowns and outages during heavy there changes to UPI AutoPay features?Yes. NPCI is introducing fixed time slots for UPI auto pay transactions. This means scheduled payments — such as auto payments, subscriptions, utility bills, or EMIs — will be processed during specific windows instead of randomly throughout the day. It's a behind-the-scenes change, but it should help reduce congestion on the platform and improve overall speed during regular usage these changes affect all UPI users? In short, yes. Whether you use UPI once a day or 20 times, the new limits apply to all users across all platforms. However, if you don't constantly refresh your payment status or check your balance multiple times, you're unlikely to notice much difference. These updates are mainly aimed at heavy users who unknowingly overload the system with repeated is the maximum UPI payment allowed after the update?Interestingly, there's no change to the current UPI payment cap itself. The transaction limits remain the same — up to Rs 1 lakh per transaction for most cases, and up to Rs 5 lakh for certain categories like healthcare or education. The August 1 update does not touch these any action required from users for these new rules?No immediate action is needed on your part. The changes will be rolled out automatically through your UPI apps. Just be aware of the new limits so you don't run into unnecessary transaction blocks during the these changes affect merchant payments and billers?Yes, but only to the extent that auto pay timings may now follow new fixed slots. Businesses relying on automated UPI collections might need to align with the new timings, but for most users — whether you're paying for your mobile recharge or a subscription — things will continue to work as usual.- Ends
News18
a day ago
- News18
How A Pav Bhaji Craving Led To A Rs 2.15 Crore Gold Robbery Crackdown In Kalaburagi
Last Updated: One of the accused stopped for a snack, and not only was his movement captured on CCTV cameras, but his payment left behind a digital trail that helped police zero in on him When masked robbers targeted a gold jewellery shop in Karnataka's Kalaburagi, they executed a plan that seemed foolproof—until one of them gave in to a plate of pav bhaji worth Rs 30. The snack not only led to their arrest, but also forced them to cough up gold worth Rs 2.15 crore. On July 11, Ayodhya Prasad Chouhan (48), Farooq Ahmed Malik (40), and Sohail Shaikh alias Badshah allegedly planned the heist at the jewellery store owned by Marathulla Malik. They roped in another local criminal whom police have been trying to trace. As Farooq, the mastermind behind the robbery, stationed himself outside the shop to keep watch during the operation, the other three accused, armed with guns, stormed the store in broad daylight, tied Marathulla Malik's hands and feet with a rope, opened the locker, and fled with what police later determined was not 805 grams but 3 kilograms of gold ornaments, along with cash. Marathulla had not disclosed the unaccounted gold to the police initially, fearing a raid, revealing yet another twist in the tale. Police also found during investigation that Farooq, who had been running a goldsmith business, had suffered heavy financial losses. With debts mounting to Rs 40 lakh, he had roped in the other criminals to loot the shop and revive his failing business. However, it was Farooq's next move that proved to be their undoing. Instead of fleeing immediately, he stopped at a nearby roadside eatery for pav bhaji. His movement was captured on CCTV cameras from adjacent shops, which the police later reviewed. What gave him away was the Rs 30 he paid via PhonePe—a digital trail that helped police zero in on him. 'We found that after they left for the shop, Farooq stayed back and paid Rs 30 for pav bhaji through PhonePe. Once the others returned after the heist, they all fled together. We traced the digital payment and got a contact number, which turned out to be a crucial lead," a police officer said. Visuals accessed by the police showed the three armed robbers briefly stepping out of the shop to speak to Farooq before going back inside. Once the job was done, all four left the spot together. While police managed to arrest the accused and recover a significant portion of the loot, they discovered that the jeweller had under-reported the value of the stolen gold. Marathulla Malik initially told the police that the gang had looted 805 grams of gold and some cash. But there was more to admit—Malik later confessed to the police that around 3 kg of gold had been taken. Police are now investigating him as well. Some of the stolen gold was melted down soon after the heist, while a portion was retained by the accused. A special team formed under Kalaburagi police commissioner SD Sharanappa later recovered 2.865 kg of gold and Rs 4.80 lakh in cash. view comments First Published: July 24, 2025, 13:04 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Mint
2 days ago
- Business
- Mint
PhonePe rolls out two co-branded credit cards with SBI
Fintech firm PhonePe has rolled out two cobranded credit cards in partnership with SBI Card, largest pure-play credit card issuer. The two new products are PhonePe SBI Card Purple and PhonePe SBI Card Select Black. This marks the second such partnership by PhonePe after its earlier tie-up with HDFC Bank. These credit cards are issued on the RuPay and Visa networks, and are looking to broaden formal credit access while offering rewards on everyday spends. RuPay variants are UPI linkable, enabling seamless use across millions of merchants nationwide, while the Visa cards can be tokenised on the PhonePe app for secure digital use. Targeting the rising demand for integrated credit and payments, the PhonePe SBI Cards offer accelerated reward points on groceries, travel, utility payments, insurance premiums and in-app PhonePe transactions. The Select Black card, positioned as a premium variant, offers up to 10 per cent value back on PhonePe and Pincode app spends and 5 per cent on other online transactions. Purple cardholders can earn up to 3 per cent and 2 per cent respectively on the same categories. Additional benefits include welcome e-gift vouchers — ₹ 1,500 for Select Black and ₹ 500 for Purple — alongside annual travel vouchers, fuel surcharge waivers and complimentary domestic lounge access. In another news, PhonePe named former Meta India public policy head Shivnath Thukral as its vice president for public policy and government affairs. "Shivnath will be responsible for leading PhonePe's external engagement and discussions with policy makers and regulators," the company said in a statement, adding that he would work closely with founders Sameer Nigam and Rahul Chari. Disclaimer: Mint has a tie-up with fintechs for providing credit, you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit score. Mint does not promote or encourage taking credit as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.
Indian Express
3 days ago
- Indian Express
How a Rs 30 pav bhaji helped police crack Rs 3-crore heist at jewellery shop in Karnataka's Kalaburagi
The police in Karnataka's Kalaburagi city announced on Monday that they cracked a daylight robbery of gold and cash worth Rs 3 crore after a Pav Bhaji that the crime's mastermind paid for using a digital wallet helped them arrest three suspects in the case. The police also recovered gold ornaments worth Rs 2.15 crore from the arrested suspects, identified as Ayodhya Prasad Chouhan, 48, Farooq Ahmed Malik, 40, and Sohail Shaikh alias Badshah, 30. Farooq, a native of West Bengal, was a gold merchant in Kalaburgi and Sohail, who hails from Mumbai, is a tailor. On July 11, four masked robbers allegedly entered a gold jewellery shop owned by Marthula Malik. They allegedly tied his hands and feet with a rope before opening the locker, and made away with gold ornaments weighing 3 kg and cash. However, according to the police, the shop's owner claimed that only 805 g of gold had gone missing to hide the undisclosed gold he possessed in his shop. Commissioner of Police S D Sharanappa said that the police could seize 2.865 kg of gold and Rs 4.80 lakh in cash from the accused. A police officer said that Farooq was the mastermind behind the robbery. He had suffered huge losses and his debt had shot up to Rs 40 lakh. On 11 July, the accused, armed with guns, allegedly attacked the shop in the heart of the city and stole the gold and cash. The police formed five teams to nab them. An officer told that the police initially started to follow the accused through CCTV footage collected from the vicinity. 'Before the robbery, the accused came to the spot and had a last-minute discussion. Farooq was also present. After they left for the shop, Farooq bought a pav bhaji paying Rs 30 through Phone Pe. He was monitoring the robbery. The others returned after the robbery and fled the spot along with Farooq. We checked the payment made and got the contact number. We found that the number belonged to Farooq. It was a major lead,' the police officer said. While the suspects had abandoned their mobile phones, police teams camped in their hometowns, waiting for them. The suspects melted the gold ornaments, sold some of the gold and returned home, only to get caught, the police said. 'We are looking for two more accused, named Arbaz and Sajid, in the case,' the police officer added. The investigation revealed that the suspects used a gun-shaped lighter to scare their victims during the robbery and that they fled to Mumbai by bus after the robbery and parted ways from there. Marthula Malik, the jeweller, later admitted that 3 kg of gold had been stolen from his store, the police said, adding that they were investigating him as well.
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Business Standard
3 days ago
- Business
- Business Standard
New PhonePe SBI Card offer up to 10% back on groceries, bills, travel
SBI Card, one of India's largest credit card issuers, has partnered with fintech giant PhonePe to launch two co-branded credit cards: PhonePe SBI Card PURPLE and PhonePe SBI Card SELECT BLACK. These cards offer generous rewards on everyday spends, exclusive benefits, and seamless app-based integration. The cards are available on RuPay and VISA networks, with RuPay cards also supporting UPI payments — a key feature for PhonePe's 63 crore users. What is in it for you? PhonePe SBI Credit Card SELECT BLACK Welcome Benefit: Reward Benefits: Accelerated Rewards on PhonePe and Pincode Platform: Earn up to 10% value back as reward points on in-app transactions Accelerated Rewards on Online Spends: Earn up to 5% value back as reward points on online spends Base Rewards: Earn up to 1% value back as reward points on all other eligible spends Milestone Benefits: Enjoy a travel voucher worth ₹5,000 on achieving annual spends of ₹5,00,000 Spend Based Reversal Reversal of renewal fee on achieving spends of ₹3,00,000 in the previous year Fuel Surcharge waiver 1% fuel surcharge waiver on transactions between ₹500 to ₹4000. Maximum waiver of ₹250 in a statement cycle Lounge Benefits: 4 domestic lounge access in a year (1 per quarter) Complimentary Priority Pass membership for international lounge access PhonePe SBI Credit Card PURPLE Welcome Benefit: ₹500 PhonePe e-gift voucher on joining fee payment Reward Benefits: Accelerated Rewards on PhonePe and Pincode Platform: Earn up to 3% value back as reward points on in-app transactions Accelerated Rewards on Online Spends: Earn up to 2% value back as reward points on online spends Base Rewards: Earn up to 1% value back as reward points on all other eligible spends Milestone Benefits: Enjoy a travel voucher worth ₹3,000 on achieving annual spends of ₹3,00,000 Spend Based Reversal Reversal of renewal fee on achieving spends of ₹1,00,000 in the previous year Fuel Surcharge waiver 1% fuel surcharge waiver on transactions between ₹500 to ₹3000. Maximum waiver of ₹100 in a statement cycle All reward points can be used to pay credit card bills or redeemed for e-gift vouchers through the SBI Card redemption catalogue. The application, usage, and management of both cards are embedded directly within the PhonePe app, streamlining the credit experience from onboarding to repayments. If you frequently use PhonePe for utility bills, shopping, groceries, or travel bookings, these co-branded cards can bring you real savings through rewards, welcome vouchers, milestone benefits, and travel perks — especially if you spend strategically to meet thresholds. Before applying: Evaluate whether your spending patterns align with the card's reward structure. Choose the right variant (PURPLE vs. SELECT BLACK) based on expected annual spend. Note: Reward redemption is limited to SBI Card's catalogue or bill payments — not cash. "Digital payments in India are experiencing rapid growth, driven by increasing convenience and accessibility of digital platforms. Our strategic partnership with PhonePe is a significant step towards further popularising credit card usage, by combining SBI Card's deep domain expertise and PhonePe's extensive digital network," said Salila Pande, MD & CEO, SBI Card. The PhonePe SBI Card SELECT BLACK offers a ₹1,500 welcome e-gift voucher upon joining fee payment of ₹1,499. It provides up to 10% value back as reward points on PhonePe and Pincode app spends, up to 5% value back as reward points on all other online merchant spends, and 1% value back as reward points on all other eligible spends. The PhonePe SBI Card PURPLE offers a ₹500 welcome e-gift voucher upon joining fee payment of ₹499. It includes up to 3% value back as reward points on PhonePe and Pincode app spends, 2% value back as reward points on all other online transactions, and 1% value back as reward points on all other eligible spends. All these reward points can be redeemed to settle outstanding credit card bills or avail e-gift vouchers from SBI Card redemption catalogue. In addition to rewards, both credit cards feature significant milestones and travel benefits. PhonePe SBI Card SELECT BLACK cardholders will receive a ₹5,000 travel voucher upon reaching ₹5,00,000 in annual spends. Customers can also enjoy four complimentary domestic lounge visits per year (one per quarter), along with Complimentary Priority Pass membership for international lounge access. The PhonePe SBI Card PURPLE offers a ₹3,000 travel voucher on achieving ₹3,00,000 in annual spends. Both credit cards also include a 1% fuel surcharge waiver.
