Financial Changes From Aug 01: UPI, Trading Hours, SBI's Air Insurance Among Key Updates

The National Payments Corporation of India (NPCI) is going to implement several changes to the Unified Payments Interface (UPI) starting from August 1, 2025 to make the interface more stable and efficient.

These changes include various rules including UPI transaction rules, balance check limits, autopay timings, and many more.

UPI Transaction Rules

NPCI releases a circular in April to inform the users that it has planned some changes to reduce the response time of UPI transactions. These adjustments are aimed at helping remitter banks, beneficiary banks and Payment Service Providers (PSPs), like PhonePe, Google Pay and Paytm.

Some key UPI changes are listed out as follows:

Balance Check Limit: Users will now be allowed only 50 balance checks per day per UPI app. If the user has more than one UPI app, they can check their balance 50 times on each app, but users are advised not to check their balance during peak hours.

Autopay Transactions: It is very important for users to know that autopay will only e processed during non-peak hours (before 10:00 am, between 1:00 pm and 5:00 pm, and after 9:30 pm). So it is necessary that they have the requisite amount to be deducted in their bank accounts at such times.

Transaction Checking: Users can also not check transactions from now on, however many times they wish to as these checks will be limited to 3 times with a minimum gap of 90 seconds.

Linked Accounts: The number of times that a user can check a linked account is going to be limited to 25 times per day per app.

Name Of Beneficiary: The registered bank name of the recipient will be visible before confirming payment, reducing errors and fraud.

Trading Hours Extended?

The Reserve Bank of India (RBI) announced an extension in the trading hours of the call money, market repo and Tri-Party Repo (TREPs) markets effective July 1, 2025, to be effected in two phases.

Starting from July 1, 2025, the call money market shall remain open from 9:00 am to 7:00 pm. Meanwhile, the trading hours for market repo and TREPs will be extended to 4:00 pm, effective from August 1, 2025. The new timings are from 9:00 am to 4:00 pm.

SBI Air Insurance

The State Bank of India has also announced that it will discontinue the free air accident insurance cover available on many co-branded cards.

Complimentary air accident insurance coverage of Rs 1 Cr currently offered on your UCO Bank SBI Card ELITE, Central Bank of India SBI Card ELITE, PSB SBI Card ELITE, KVB SBI Card ELITE, KVB SBI Signature Card, and Allahabad Bank SBI Card ELITE will be discontinued, the bank said in a statement.

Additionally, the complimentary air accident insurance coverage of Rs 50 lakh currently offered on your UCO Bank SBI Card PRIME, Central Bank of India SBI Card PRIME, PSB SBI Card PRIME, KVB SBI Card PRIME, Karur Vysya Bank SBI Platinum Credit Card, South Indian Bank SBI Card PRIME, South Indian Bank SBI Platinum Credit Card, Karnataka Bank SBI Card PRIME, Karnataka Bank SBI Platinum Credit Card, City Union Bank SBI Card PRIME, Allahabad Bank SBI Card PRIME, UBI SBI PLATINUM Credit Card, OBC SBI VISA PLATINUM Card, Federal Bank SBI Platinum Credit Card, BOM SBI PLATINUM Credit Card will also be discontinued.

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