Reserve Bank of India (RBI) Releases August Bank Holiday Schedule as Multiple Rule Changes Take Effect from August 1, 2026

Key facts

• Oil marketing companies will revise domestic (14.2 kg) and commercial (19 kg) LPG cylinder prices on August 1, 2026, based on international energy prices.
• Indian Railways has introduced a token system for Tatkal ticket booking at reservation counters to improve queue management.
• The Reserve Bank of India (RBI) has released the August bank holiday schedule, with bank closures on Independence Day, Raksha Bandhan, Janmashtami, and regular weekly holidays.
• Digital banking services including ATMs, UPI, internet banking, and mobile banking will continue as usual, but banks may revise service charges and free transaction limits from August 1.
• Some banks and credit card issuers may introduce changes to reward programmes, annual fees, and payment conditions from August 1.
• Aviation turbine fuel (ATF) prices will also be revised on August 1, affecting airline operating costs.
• The due date for filing ITR-3 and ITR-4 for taxpayers whose accounts are not subject to audit is August 31, 2026, with a late filing fee of up to ₹5,000 under Section 234F.
• RBI will hold its monetary policy meeting from August 3-5, 2026, with potential impact on the repo rate and borrowing rates.