# PhonePe SBI SELECT BLACK & PURPLE: reward caps cut, new exclusions

**Devaluation** · effective 1 July 2026

Affects: [PhonePe SBI Card SELECT BLACK](https://getbrief.cards/cards/phonepe-sbi-select-black), [PhonePe SBI Card PURPLE](https://getbrief.cards/cards/phonepe-sbi-purple)

✓ official · checked 1 July 2026 · recorded 28 June 2026

Source: https://www.sbicard.com/sbi-card-en/assets/docs/pdf/ekit-tncs/PhonePe-Black-pdf-27Apr2026.pdf

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Dates are the issuer’s, not Brief’s. A change that has been announced but has not taken effect yet reads “from” and sits at the top. Where an issuer published no date, the earliest dated confirmation stands in its place, and the entry is marked verified rather than official.

Every change, dated: https://getbrief.cards/changes
Canonical: https://getbrief.cards/changes/phonepe-sbi-deval-2026