Top News

A number of financial and public service-related changes are set to take effect from August 1, with updates covering LPG cylinder prices, railway Tatkal ticket booking, banking schedules, credit cards and income tax return (ITR) filing timelines.

Several of these changes are part of the routine monthly revisions announced by government agencies, regulators and service providers, while others relate to previously notified policy updates. Here's a look at the key changes that could affect consumers during August.

LPG Prices To Be Revised

Oil marketing companies are scheduled to revise the prices of domestic and commercial LPG cylinders on August 1, as they do at the start of every month.

The revised rates for domestic 14.2 kg cylinders and commercial 19 kg cylinders will depend on changes in international energy prices and other cost factors. Consumers and businesses will be watching the latest revision to see whether prices increase, decrease or remain unchanged.

Tatkal Ticket Booking Process Gets Updated

Railway passengers booking Tatkal tickets through reservation counters will see a change in the booking process.

Under the revised system, tokens will be issued to passengers at reservation counters before ticket booking begins. Bookings will then be processed according to the token sequence, a move aimed at improving queue management and reducing congestion at reservation centres.

Bank Holiday Calendar For August

The Reserve Bank of India's (RBI) August bank holiday schedule will also come into effect from the beginning of the month.

Bank branches across different states will remain closed on specified dates to observe occasions such as Independence Day, Raksha Bandhan and Janmashtami, in addition to the regular weekly holidays on Sundays and the second and fourth Saturdays.

Customers planning to visit bank branches have been advised to check the holiday calendar applicable to their respective states before scheduling important banking work.

Digital Banking And Credit Card Rules

Although digital banking services, including ATMs, UPI, internet banking and mobile banking, will continue to operate as usual, banks may revise service charges, free transaction limits or other banking-related terms from the beginning of the month.

Similarly, some banks and credit card issuers may introduce changes to reward programmes, annual fees, payment conditions or other card-related features. Customers are advised to refer to official communication from their respective banks for any revisions that may take effect from August.

ATF Prices Also Due For Monthly Revision

Apart from LPG, prices of aviation turbine fuel (ATF) are also expected to be revised at the start of the month in line with international market movements.

Any change in ATF prices could have an impact on airline operating costs and, in turn, influence air travel expenses.

ITR Filing Deadline Continues For Some Taxpayers

While the deadline for salaried taxpayers to file income tax returns is July 31, the due date for filing ITR-3 and ITR-4 by taxpayers whose accounts are not subject to audit remains August 31.

Taxpayers who miss this deadline may have to pay a late filing fee of up to ₹5,000 under Section 234F of the Income Tax Act.

RBI Policy Meeting In Focus

The RBI is also expected to hold its next monetary policy meeting between August 3-5, 2026, with market participants closely tracking the central bank's decision on the repo rate.

Any change in the policy rate could influence borrowing and deposit rates, including home loans, vehicle loans, equated monthly instalments (EMIs) and fixed deposit returns.

Consumers are expected to keep a close watch on these developments as August begins, particularly those related to household expenses, banking services and financial planning.