Every month new changes come. In this sequence, today i.e. from August 1, some rules are also changing which can have a direct effect on you. These changes include UPI, LPG gas prices and many important rules related to banking. These changes are such that will directly affect your daily tasks and your pockets. In such a situation, you should know about these important changes in time and according to that your plans should be made.
UPI: Now you will be able to check the balance only 50 times a day
There are many major changes in UPI since August 1. The biggest change is that now you will be able to check the balance only 50 times a day. You will be able to see the list of bank accounts only 25 times.
Changes in autope transaction time also
Repeated UPI autope transactions such as installments, mutual funds SIP and OTT subscription can now be completed only in non-pickers. Autope transaction time will be held before 10 am, 1 pm to 5 pm and 9:30 pm. This means that if your Netflix bill used to be cut at 11 am, now it can be cut before or after. Similarly, if your UPI payment fails, you will get only three opportunities to check its condition. You have to wait for 90 seconds between each attempt.
Banking Amendment Act implemented from today
The major provisions of the Banking Law (Amendment) Act, 2025 will be applicable from August 1. The amended law aims to improve bank administration and ensure safety of depositors and investors. Improvement in audit in public sector banks and increasing tenure of directors in cooperative banks. Now public sector banks will be allowed to transfer shares, interest and bond amount in the investor education and conservation funds.
New business hours for market repo and trilateral repo operations
For market repo and trilateral repo operations, business hours will be increased by one hour to 4 pm. The new time will be from 9 am to 4 pm.
No GST on UPI transactions more than Rs 2,000
A good news for UPI users is also that there is no proposal to impose GST on UPI transactions worth more than Rs 2,000. Recently some similar reports came out, after which on July 22, Minister of State for Finance Pankaj Chaudhary said in the Rajya Sabha that the GST Council has not recommended any GST on UPI transactions.
25% US tariff will now be applicable from August 7
US President Donald Trump’s order to impose 25 percent tariff on imports from India will now be applicable from 7 August. President Trump issued this order late at night. Earlier, the American tariff was to be effective today (1 August). Due to this, most of the products exported from India to the US are set to become expensive there. It is believed that this may shock Indian exporters, as the US is a large buyer of Indian products and if American tariffs grow on goods sent from India, citizens there can prefer goods coming from other countries at low tariff rates rather than Indian products.
Commercial LPG gas cylinder prices cut
Oil marketing companies have cut the prices of commercial LPG gas cylinders. The price of 19 kg commercial LPG cylinder has been reduced by Rs 33.50, which will be effective from 1 August 2025. After the new prices are implemented, the price of 19 kg commercial LPG cylinder in Delhi will be Rs 1631.50 from August 1, which is currently priced at Rs 1665.00. However, the common consumers have not received any relief. There has been no change in the prices of domestic LPG cylinder with 14.2 kg. The prices of LPG cylinders are reviewed on the first date of every month. This time this change is limited to commercial cylinders only.
