A series of major financial changes take effect in August 2025, impacting daily payments, travel, and card benefits. Updates include revised UPI rules, a new FASTag annual pass for private vehicles, and the withdrawal of free insurance on select SBI credit cards—affecting millions of users across the banking and digital ecosystem.
UPI Transaction Rules Overhauled
The National Payments Corporation of India (NPCI) has introduced changes to the Unified Payments Interface (UPI) to improve transaction efficiency and reduce load during peak times. The following new rules come into effect:
- Balance Check Limit: Capped at 50 per day per UPI app. Users with multiple apps can still check separately on each.
- Auto-Pay Transactions: Now restricted to non-peak hours—before 10:00 am, between 1:00–5:00 pm, and after 9:30 pm.
- Transaction Status Check: Limited to 3 per transaction, with a minimum 90-second gap.
- Linked Account Checks: Capped at 25 times per app per day.
- Beneficiary Bank Name Display: Now visible before confirming payment to reduce errors and fraud.
SBI to Discontinue Free Air Accident Insurance on Co-Branded Cards
SBI has announced the discontinuation of complimentary air accident insurance on several co-branded credit cards. Affected cards include:
- Rs 1 Cr Cover Withdrawn: UCO Bank SBI Card ELITE, Central Bank of India SBI Card ELITE, PSB SBI Card ELITE, KVB SBI ELITE, and others.
- Rs 50 Lakh Cover Withdrawn: Cards issued in partnership with Federal Bank, Allahabad Bank, South Indian Bank, Karnataka Bank, and more.
Fuel Price Revision Expected
As part of the monthly pricing review, LPG cylinder prices, as well as those for CNG, PNG, and Aviation Turbine Fuel (ATF), are expected to be revised today. Final prices will depend on global trends and domestic cost factors.
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New FASTag Annual Pass from August 15: What You Need to Know
Starting August 15, 2025, private vehicle owners can opt for a FASTag Annual Pass for ₹3,000. It allows up to 200 toll transactions or one year of validity—whichever comes first. The initiative by the Ministry of Road Transport & Highways aims to ease toll payments for frequent travellers.
- Not Mandatory: Regular FASTag usage remains unchanged for those who don’t opt for the pass.
- Activation: Users can activate the pass via their existing FASTag accounts.
- Purchase & Validity: Available through authorized platforms; valid for one year or 200 tolls.
Market Trading Hours Extended
The Reserve Bank of India (RBI) has implemented the second phase of trading hour extensions:
- Call Money Market: Already extended to 9:00 am–7:00 pm from July 1, 2025.
- Repo & TREP Markets: Trading now open until 4:00 pm starting today.
PNB Sets August 8 Deadline for KYC Update
Punjab National Bank (PNB) has urged customers to update their KYC details by August 8, 2025. Failure to comply may result in restrictions on account operations. Customers are advised to complete the process promptly to avoid disruptions.
RBI MPC Meeting Scheduled
The Monetary Policy Committee (MPC) of the RBI will meet from August 4–6, 2025 to review the current repo rate. Any changes could directly influence bank lending and deposit interest rates.
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