Key Financial Changes in August: You Won’t Believe to Know #3 or #4

As we step into another month of 2025, August, the new set of financial rules is launched, which will come into effect from August 01, 2025. From big changes in UPI rules to a reduced repo rate by the RBI, several key financial changes will take place in August. Here’s what you need to know about the major changes, so you can plan your financial balances orderly. 

New UPI Rules

The National Payments Corporation of India (NPCI) has launched key updates in UPI rules, which came into effect from August 1, 2025. One of the major changes is that users can now check their bank balance in UPI apps for only 50 times per day. This new limit will apply to payment platforms, including Paytm, Google Pay, Phonepe, or any other app used for UPI payments. Another change in the rules is that apps won't be allowed to do automatic bank balance checks anymore. 

Changes in Autopay Transactions

Another big update is about scheduled autopay transactions. Automatic transactions like EMI deductions through UPI apps, OTT subscriptions, or utility bills will now go through only during certain off-peak time slots. 

UPI Safety Rule Update

The new rules also show that if you have any UPI ID that is still linked to your mobile number, but hasn’t been used for over 12 months. Then it will be automatically disabled. This rule mainly focuses on stopping misuse after your number gets reassigned. 

Update in Mutual Fund Scheme Rules

The market regulator has shared a draft circular with big changes for mutual fund scheme rules. The idea is to make things clearer for investors, avoid portfolio overlaps, and push new fund ideas. One of the main changes is: if a fund house (AMC) already has a scheme that’s more than 5 years old and has over ₹50,000 crore AUM, they can launch another similar scheme in the same category. But the old scheme must stop taking new investments. The new scheme must also have a separate info document and match the investment style of the first one. The draft is open for public feedback till August 8.

SBI Credit Card Rs 1 Crore Air Accident Cover Removed

SBI card will stop the free air accident insurance on many of its co-branded credit cards, which will come into effect from August 11, 2025. The co-branded cards include SBI Card ELITE, SBI Signature, and others that won't give you the Rs 1 crore air insurance anymore. Holders of SBI Card Prime will lose their Rs 50 Lakh insurance cover as well. 

Verify Your ITR within 30 Days 

If you’re a taxpayer who files ITR in July or planning to file in August, then submitting the return online is not the end. Now, you also have to verify your ITR within 30 days of filing. After your verification, the Income Tax Department will start your ITR processing. 

What’s the good news? 

If you’re an individual taxpayer who filed your ITR in July or are planning to file in August, just submitting the return online isn’t enough. You also have to verify your ITR within 30 days of filing. Only after that, the Income Tax Department will begin processing it. You can do this quickly online at the I-T e-filing portal by using Aadhaar, a pre-validated bank account, or even your demat account.

PM- Kisan Scheme- 20th Installment Launch 

The 20th installment of the PM-Kisan scheme is going to launch on August 2, 2025. Prime Minister Narendra Modi will release Rs 2000 directly into the accounts of the farmers. This new installment is expected to benefit around 9.7 crore farmers across India. 

Update on NeuCoins expiry rules on HDFC Tata Neu Infinity Credit Card

The HDFC Tata Neu Infinity Credit Card holders will be meeting with the new big change, starting from August 01, 2025. Earlier, your NeuCoins didn’t expire as long as you are kept using the card. But now it will expire one year from the month you earn them. Each month’s coin will have its own expiry date.