Outlook Business Desk
This month brings key developments — from new Unified Payments Interface (UPI) rules and a crucial policy review by the Reserve Bank of India’s Monetary Policy Committee (RBI), to important tax decisions during Parliament’s Monsoon Session.
New guidelines from the National Payments Corporation of India (NPCI) will affect how you use the UPI. Key changes include limits on balance checks and updates to the autopay feature for recurring payments.
Called the new Application Programming Interface (API) usage rules, they will be applicable across all UPI apps — including those offered by public sector banks, private banks, and third-party payment service providers. The goal is to streamline UPI performance.
From August 1, UPI users can check their account balance only 50 times per day. The National Payments Corporation of India says this move will help reduce pressure during peak hours.
Autopay transactions like bill payments, recharges, subscriptions and easy monthly instalments will now be executed in specific time slots, instead of randomly throughout the day, to ease system congestion.
Banks will now send automatic balance updates after every transaction. This change aims to cut down the need for manual checks and reduce unnecessary load on UPI systems.
Starting next month, trading hours for market repo and Tri-Party Repo (TREP) operations will be extended by one hour. These will now run from 9 AM to 4 PM, as per Reserve Bank of India’s June 2025 notification.
This update only applies to repo markets. Trading hours for derivatives, foreign exchange, and government securities markets will remain the same, with no changes.
The RBI’s Monetary Policy Committee (MPC) is scheduled to hold its rate-setting meeting from August 4 to 6, with the decision’s announcement scheduled for August 6. Meanwhile, Parliament’s Monsoon Session will continue until August 21, focusing on key tax and economic bills.