New rules for Unified Payment Interface(UPI) and Liquid Petroleum Gas (LPG) come into effect from Monday, June 1, 2026.
These changes are expected to have deep impacts on the ways your finances and household expenses are managed.
Here is what has changed:
In order to protect from financial scams, apps like Google Pay, PhonePe and Paytm will stop relying solely on four or six-digit pins for high-value transactions. The apps will now require biometric verification(FaceID/Fingerprint) or third-party two-factor authentication or device-based verification.
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In order to stop misdirected payments, the UPI apps must mandatorily pull the actual verified name of the recipient of the money via a secure database. The apps will show the full official name of the people before you can make a payment.
Prices of Commercial LPG, 5-kg free trade LPG hiked
UPI cardless transactions will now be counted by banks as part of your monthly free withdrawals, and exceeding this limit will invite fees, just like card transactions.
The authorities are now planning more efficient and faster transactions from Liquid Petroleum Gas(LPG) to Piped Natural Gas(PNG).
Why is India pushing piped gas now? | Explained
The changes in the UPI and the restrictions and new rules governing cooking gas will be implemented from June 1, 2026. But why the date?
May 31st is usually the hard date by which all technical UPI app frameworks must switch to enhanced security measures. The date is sometimes even decided to preempt a surge in transactions like school fees, summer holiday travel transactions, etc.
The fallout of the crisis in West Asia on India’s economy
LPG restrictions come in as the prices for cooking gas have been going up, owing to the crisis in West Asia. Fuel prices of petrol, diesel, and CNG have also gone up.
Published - May 31, 2026 04:59 pm IST
Source: The Hindu - India News
