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Big Changes from UPI to SBI Credit Card from 1 August

From 1 August, major changes have been implemented in UPI payments and SBI credit card policies. UPI may see limits and merchant charges, while SBI credit cards now exclude rewards for utility and government transactions. Additional fees on EMI and foreign spending also apply. These updates directly impact the common manu2019s daily spending and savings. Stay informed with RD News Network for simplified financial news that helps you make better money decisions.

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Big Changes from UPI to SBI Credit Card from 1 August

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  1. Big Changes from UPI to SBI Credit Card from 1 August From 1 August, several important changes have been implemented that affect everyday financial transactions—from UPI payments to SBI credit card usage. These updates, announced by regulatory bodies and banks, are designed to enhance transparency and improve security but could significantly impact the common man’s daily financial behavior. UPI Changes One of the biggest updates involves Unified Payments Interface (UPI). The National Payments Corporation of India (NPCI) has directed platforms like PhonePe, Google Pay, and Paytm to begin charging merchants for certain types of UPI transactions—particularly those linked to prepaid instruments such as wallets. While peer-to-peer (P2P) payments between individuals remain free, the indirect cost burden may eventually fall on consumers, especially in small shops and online platforms that could raise prices to offset charges.

  2. Additionally, some banks have started to impose limits on the number of UPI transactions per day to curb misuse and enhance security. This may inconvenience users who rely heavily on UPI for all types of purchases, including groceries, fuel, or utility bills. SBI Credit Card Updates State Bank of India has also rolled out major changes to its credit card reward system and fee structure. Effective August 1, several SBI credit cards will no longer offer reward points for utility bill payments and certain government transactions. This includes taxes, insurance premiums, and fuel expenses—categories previously used to earn rewards by many middle-class users. Moreover, SBI has introduced new transaction fee policies for EMI conversions and international spending. A revised late payment fee and annual renewal charges may further burden the common man, especially those trying to manage monthly expenses on credit.

  3. What It Means for the Common Man For the average Indian citizen, these changes mean a shift in how they budget, spend, and earn rewards. With reduced cashback benefits and potential UPI transaction limits, people may need to reassess their spending strategies. Digital-savvy users will have to stay informed and adapt quickly, possibly switching platforms or payment methods to maximize savings. Stay tuned with RD News Network for the latest financial news and updates that matter to you. We break down complex policies so you can make smarter money decisions every day. For more join us : https://youtu.be/r0gNNejWGIw?si=e8n9Q_hfkrFwTw61

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