Starting August 1, 2025, a range of financial changes are set to take effect in India, ranging from digital payments to trading hours, credit card rules, and more. These adjustments will impact various sectors and individuals, making it essential to stay updated. Let's break down the major changes:
UPI Changes
The National Payments Corporation of India (NPCI), which governs UPI, has implemented several regulatory updates to improve the platform’s efficiency. From August 1, UPI users will only be allowed to check their account balance 50 times per day, a reduction from the previously unlimited checks. Additionally, UPI autopay transactions will now occur at fixed time slots rather than being processed at random intervals. This change aims to streamline the process and reduce congestion, especially during peak times. Furthermore, users will be allowed to check transaction statuses only up to three times per day, with a minimum gap of 90 seconds between checks.
Changes in Trading Hours
The Reserve Bank of India (RBI) has extended the trading hours for specific financial markets. As of August 1, the trading hours for market repo and Tri-Party Repo (TREPs) markets will be from 9:00 AM to 4:00 PM. This follows a phased implementation, with the call money market already operating until 7:00 PM since July 1. These changes aim to provide more flexibility for market participants and improve liquidity.
SBI Credit Card Changes
The State Bank of India (SBI) has made significant changes to its co-branded credit card offerings. As of August 1, several SBI credit cards will no longer provide air accident insurance coverage. For instance, the Rs 1 crore air accident insurance will be discontinued for the SBI Card ELITE and several other variants. Similarly, the Rs 50 lakh coverage on SBI Card PRIME variants will also be removed. This decision impacts customers across multiple partner banks. Cardholders may need to reassess their credit card benefits in light of these changes.
LPG Price Adjustments
Oil marketing companies have reduced the prices of commercial LPG cylinders. The price of a 19 kg commercial cylinder has dropped by Rs 33.50, bringing the cost in Delhi to Rs 1,631.5, down from Rs 1,665. In cities like Kolkata, Mumbai, and Chennai, prices have been reduced by similar amounts. However, the price of domestic LPG cylinders remains unchanged. The reduction is expected to help businesses save on operational costs, particularly those in the food and hospitality industries.
NeuCoins Expiry Policy Update
HDFC Tata Neu Infinity Credit Card holders will now have to follow a new expiry policy for NeuCoins earned on their cards. Effective August 1, NeuCoins will expire one year from the month they are credited. For example, NeuCoins earned in August 2025 will expire in August 2026. Coins earned before August 1, 2025, will expire by July 31, 2026. This update is a shift from the previous system where coins did not expire as long as the card remained in active use.
SEBI’s Mutual Fund Overhaul Proposal
The Securities and Exchange Board of India (SEBI) has proposed significant changes to the categorization of mutual fund schemes. The draft regulations aim to enhance investor clarity and reduce portfolio overlaps. If approved, asset management companies will be allowed to launch a second scheme in the same category for funds with more than Rs 50,000 crore in assets, provided the original scheme is at least five years old. This move is intended to encourage innovation and improve transparency in the mutual fund industry. SEBI is accepting public feedback until August 8, 2025.
