Mumbai, July 30: People across the country are eagerly awaiting the month of August, which brings several bank holidays, stock market closures, and festivals. However, the upcoming month is also expected to bring financial changes that could directly affect one's monthly expenses. These changes could be seen in the form of new UPI rules and hikes in fuel prices, including LPG and CNG. While the changes are evident, it's important to be aware of the financial changes coming into effect starting August 1.

According to reports, a hike in fuel prices or changes in the usage of UPI could affect one's finances. Scroll below to learn about the financial changes that will come into effect from August 1. The first change, which is likely to affect people nationwide, is a change in daily limits for UPI users. The National Payments Corporation of India (NPCI) will be imposing caps on UPIs such as Google Pay, Paytm and PhonePe, among others, to reduce strain on the server and boost service speed. New UPI Rules Effective From August 1, 2025: From Daily Balance Check Limits to Autopay Timing Restrictions, List of Key Changes for People Using GPay, PhonePe, Paytm and More.

Daily Limits for UPI Users to Hike in LPG Prices

As per the changes, there will be a limit of 50 per day to check bank balance, while accounts linked with a mobile number will be capped at 25 per day. Another major change in UPI is that NPCI will limit autopay transactions to three fixed time slots and allow users to view failed transaction status three times a day. Starting August 1, the Narendra Modi-led government is expected to review the prices of domestic LPG cylinders. It must be recalled that in July, prices of commercial LPG were cut by INR 60, thus raising expectations of a similar price reduction in domestic cylinders. However, if household cylinders aren't cheaper, then the same would put more pressure on the monthly budget.

CNG and PNG Rates Likely to Rise

The coming month could see a hike in CNG and PNG prices as rates have not been changed since April 9. Starting August 1, CNG and PNG are expected to be raised, and the same could affect households across the country, thereby making cooking and commuting more expensive. As both fuels are used in metro cities for auto, taxi, and kitchen gas pipelines, even a small rise in their prices could affect everyday costs and travel.

Bank Holidays in August

The upcoming month of August is packed with a number of events, including festivals, national holidays, and bank closures. Banks are likely to remain closed for a total of 15 days next month on account of state-wise festivals, second and fourth Saturdays and all Sundays. This means banks will stay shut in most locations nationwide. Banking tasks, if delayed, will result in payment delays and cheque clearance issues. Bank Holidays in August 2025: Banks To Remain Closed for 15 Days Including Sundays Next Month; Check Full List of Bank Holiday Dates.

Air Travel Likely to Get Costlier

From August 1, air travel is likely to get costlier if the prices of Aviation Turbine Fuel (ATF), which powers aeroplanes, are revised. If the prices of ATF are raised, then airlines will pass on the increased cost to passengers, making flight tickets more expensive. Hence, keep an eye on airline fares, as a hike in ATF could lead to a price spike in air travel.

RBI Repo Rate

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) is likely to meet from August 4 to August 6. During the meeting, key announcements are expected to be made, including any change in the repo rate. During the June MPC meeting, the RBI announced a repo rate cut of 50 basis points, thereby bringing the total repo rate cut for 2025 to 100 bps (1 per cent). At present, the repo rate stands at 5.5 per cent. A cut in repo rate will reduce lending and deposit rates offered by banks, thereby impacting households nationwide. Notably, the MPC meeting in August will be watched closely to determine the country's monetary policy for the upcoming months.

The above financial changes are expected to come into effect on August 1. People are advised to be updated and plan their finances in advance, as the changes can impact monthly budgets.

(The above story first appeared on LatestLY on Jul 30, 2025 05:33 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).