August 1: Important financial rules change including UPI, Credit Card and more

August 1: August 1st often marks the effective date for several rule revisions that can impact household budgets. August 1: Important financial rules change including Unified Payments Interface (UPI), Credit Card and more. Here’s a breakdown of the key changes expected from August 1, 2025, related to credit cards, UPI, and LPG, and how they might affect your monthly expenses:

1. UPI Rules Updates (NPCI Guidelines):

The National Payments Corporation of India (NPCI) is implementing new Application Programming Interface (API) usage rules aimed at streamlining digital payments, reducing server load, and improving system efficiency. These changes will impact all UPI apps (PhonePe, Google Pay, Paytm, etc.):

Balance Check Limit: Users will be able to check their bank account balance a maximum of 50 times per day per UPI app.

Bank Account Lookup Limit: You can view bank accounts linked to your mobile number a maximum of 25 times per day per UPI app.

AutoPay Transaction Slots: AutoPay or recurring transactions (like Netflix subscriptions, mutual fund SIPs, utility bills, EMIs) will now be processed only during specific time slots:

Before 10 AM

Between 1 PM and 5 PM

After 9:30 PM

Failed Transaction Status Checks: You can check the status of a failed transaction only 3 times per day, with a minimum 90-second gap between each check.

Mobile Number Inactivity: If your mobile number linked to UPI is inactive for 90 consecutive days, your UPI account may be automatically deactivated for security. Users are advised to use their UPI-linked number at least once every three months to keep their account active.

Impact on Monthly Expenses: For most regular users, these UPI changes are unlikely to directly increase monthly expenses, as they are primarily aimed at system optimization. However, businesses or heavy users of these features might need to adjust their practices. Deactivation due to inactivity could cause temporary inconvenience.

2. Credit Card Changes (SBI Card):

Discontinuation of Complimentary Air Accident Insurance: Effective August 11, 2025, SBI will withdraw the complimentary air accident insurance cover that was previously offered on select ELITE and PRIME credit cards. This insurance covered ₹50 lakh to ₹1 crore.

Impact on Monthly Expenses: This change doesn’t directly increase your monthly expenses but removes a valuable benefit. If you relied on this insurance, you might need to consider purchasing separate travel or accident insurance, which would be an additional expense.

3.LPG Prices:

Oil marketing companies (OMCs) typically revise LPG cylinder prices on the 1st of every month.

Potential Price Revision: While commercial LPG cylinder prices saw a cut in July, the price of domestic LPG cylinders (14.2 kg) has remained unchanged since April 8, 2025. Consumers are hopeful for a price reduction, but there’s also a possibility of a hike depending on international crude oil prices, the rupee-dollar exchange rate, and other factors.

Impact on Monthly Expenses:

Decrease: If domestic LPG prices are reduced, it would bring relief to household budgets.

Increase: If prices are hiked, it will directly increase your cooking expenses.

4.CNG and PNG Prices:

Prices of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) are also often reviewed and revised monthly.

Potential Price Revision: No official announcement has been made, but a price revision in August is likely, which could impact daily commuting (for CNG vehicle users) or cooking expenses (for PNG users).

5. ATF (Aviation Turbine Fuel) Prices:

Potential Price Increase: If ATF prices rise in August, it could lead to an increase in flight ticket fares, directly impacting domestic and international travelers.

While some changes, like the UPI rules, are more about system efficiency, others, particularly concerning LPG, CNG/PNG, and ATF prices, have the potential to directly increase your monthly expenses if prices are revised upwards. The credit card change removes a benefit, potentially leading to new expenses for insurance coverage.

Also Read: Bank Holiday: Banks will be closed tomorrow on Monday July 28