With the beginning of every new month, many financial rules change in the country, and the month of August has also brought some similar big changes. These changes are related to your everyday transactions, travel, and banking. Here we are telling you about 4 such big changes, which have come into effect from today, and whose information is very important for you.
Big change in UPI rules
The National Payments Corporation of India (NPCI) has implemented some new rules to improve the quality of UPI transactions. Now, banks and apps associated with UPI will have to limit the number of requests, like checking the balance. This step has been taken to make the system more efficient and secure. Now, some APIs, like autopay mandate and address verification, will also be used under the rules. This will make the transaction even more secure.
Free insurance cover discontinued from the SBI credit card
If you use an SBI Card, then this news is for you. From August 11, 2025, SBI Card is going to discontinue the facility of free air accident insurance available on many co-branded credit cards. This change will affect premium cardholders like ELITE, PRIME, and some platinum cards. Earlier, these cards used to get accident insurance cover of ₹ 50 lakh to ₹ 1 crore, which will no longer be available. This was an additional benefit, which will now end.
Punjab National Bank (PNB) KYC Update
Punjab National Bank (PNB) has given an important instruction to its customers. The bank has asked its customers to update the KYC information of their bank accounts before 8 August 2025, so that their accounts continue to run normally. This KYC update is necessary for all those customers whose KYC information has not been updated by 30 June 2025. This step has been taken as per the guidelines of the RBI, so that there is no fraud in your bank account.
Introduction of Annual Pass for FASTag
A new and economical facility is being introduced for those who travel frequently on highways. From August 15, 2025, the new FASTag Annual Pass will be available for private vehicle owners. This pass will be available for ₹3,000 and will be valid for one year or 200 toll transactions (whichever is completed first). This scheme is an economical option for those who travel frequently on highways. It is not mandatory to take this annual pass; those who wish can continue to use FASTag in the existing way.
All these changes affect your financial transactions and security. Therefore, it will be beneficial for you to be aware of them and take necessary action on time.