India, July 29 -- The Unified Payment Interface (UPI) is set to introduce several changes to the instant payment service from August 1. The National Payments Corporation of India (NPCI) is going to implement the new rules to improve the performance of UPI transactions.

So, if you are a UPI user and rely on payment service providers like PhonePe, Google Pay or Paytm on a regular basis, then the new rules are set to affect the way the transactions take place. Though, the revised guidelines wouldn't impact your day-to-day transactions, it is set to bring in restrictions for UPI-related services.

The new rules include caps on limiting services, like checking bank balance, auto payments, fetching bank account info and checking payment status...