From UPI Rules to LPG Prices: 5 Major Financial Changes That Took Effect from August 1

New Delhi | August 1, 2025 – The beginning of August has brought five major financial rule changes that directly impact common citizens' daily lives and expenses. These updates span across UPI transactions, trading hours, SBI credit card benefits, and LPG cylinder prices. Here’s a detailed look at the changes effective from August 1, 2025.

1. UPI Transaction Rules Updated

To enhance security and reduce system congestion, the National Payments Corporation of India (NPCI) has introduced new limitations for UPI users:

• Account balance can now be checked only 50 times per day.

• Autopay UPI transactions will be processed only within predefined time slots.

• Users will be allowed to check the status of a transaction only 3 times, and each attempt must be at least 90 seconds apart.

These measures aim to curb unnecessary traffic and make the UPI ecosystem more efficient and secure.

2. Trading Hours Revised for Market Repo and TREP

As per the Reserve Bank of India (RBI), the operating hours for some financial markets have been extended:

• From August 1, 2025, the Market Repo and TREP markets will operate from 9 AM to 4 PM.

• Previously, the call money market timing had already been extended to 9 AM to 7 PM starting July 1, 2025.

The objective is to increase liquidity and transparency in the financial system.

3. SBI Credit Cards Lose Key Insurance Benefits

In a significant move, State Bank of India (SBI) has withdrawn air accident insurance covers on several co-branded credit cards. This will impact users who chose these cards specifically for the insurance benefits.

Cards Losing ₹1 Crore Insurance Cover:

• UCO Bank SBI Card ELITE

• Central Bank of India SBI Card ELITE

• Punjab & Sind Bank SBI Card ELITE

• Karur Vysya Bank SBI ELITE and Signature Cards

• Allahabad Bank SBI Card ELITE

Cards Losing ₹50 Lakh Insurance Cover:

• UCO Bank SBI Card PRIME

• Central Bank of India SBI Card PRIME

• South Indian Bank SBI PRIME & Platinum Cards

• Karnataka Bank SBI PRIME & Platinum Cards

• City Union Bank SBI Card PRIME

• Union Bank of India SBI Platinum Card

• Federal Bank SBI Platinum Card

• Oriental Bank of Commerce SBI Visa Platinum

• Bank of Maharashtra SBI Platinum (BOM SBI Platinum)

Cardholders are advised to re-evaluate their credit card benefits if air accident insurance was a key consideration.

4. LPG Cylinder Prices Revised

As is customary on the first of each month, state-run oil companies have updated the prices of LPG cylinders. Ahead of the Raksha Bandhan festival, the price of commercial LPG cylinders has been reduced by ₹33.50. While the commercial cylinder price drop is official, domestic LPG price updates are awaited and may vary by state taxes.

5. Daily Finances Just Got More Regulated

These policy updates mark a broader move by the government and financial institutions to:

• Encourage responsible digital payment behavior

• Improve market operations

• Reduce benefit misuse linked to credit cards

• Offer price relief to businesses and consumers

Final Thoughts

Whether you're a salaried employee, a trader, a small business owner, or a homemaker, these changes could impact your daily budget and digital habits. Stay updated, adjust your financial routines, and ensure you are in compliance with the new norms for a smoother experience moving forward.