Public vacation on September 18, 2024: The Reserve Bank of India (RBI) has introduced that there will be no trading actions in numerous monetary markets, together with government securities, foreign exchange, money markets, and rupee rate of interest derivatives, on September 18, 2024.
This determination comes after the government of Maharashtra declared the day as a public vacation underneath Section 25 of the Negotiable Instruments Act, of 1881.
In a press launch dated September 14, 2024, RBI has said, “Accordingly, there will be no transactions and settlements in Government securities, foreign exchange, money markets and rupee interest rate derivatives on September 18, 2024. Settlement of all outstanding transactions due on September 18, 2024 (Wednesday) will get postponed to the next working day, i.e., September 19, 2024 (Thursday).”
The RBI additionally talked about that the beforehand declared public vacation on September 16, 2024, has been cancelled. This change comes after the Maharashtra government shifted the Eid-e-Milad vacation from September 16, 2024, to September 18, 2024.
The central financial institution additional clarifies, “The Government securities market, foreign exchange market, money market and rupee interest rate derivatives market will now be operational on September 16, 2024 (Monday). The settlement of secondary market transactions in Government securities, foreign exchange market, money market and rupee interest rate derivatives market which are due on September 17, 2024, will continue to be on the same day, i.e., September 17, 2024 (Tuesday).”
Regarding the settlement of government securities auctions, RBI states, “Settlement of the auction of Government of India Dated Securities conducted on September 13, 2024 (Friday) will take place on September 17, 2024 (Tuesday) as announced earlier. Settlement of the auction of State Government securities scheduled on September 17, 2024 (Tuesday) will now take place on September 19, 2024 (Thursday) instead of September 18, 2024 (Wednesday).”
The RBI additionally offered details about the Standing Deposit Facility (SDF) and Marginal Standing Facility (MSF) underneath the Liquidity Adjustment Facility (LAF). The amenities availed on September 13, 2024 (Friday) and scheduled to reverse on September 17, 2024 (Tuesday) will now reverse on September 16, 2024 (Monday). The SDF and MSF home windows underneath the LAF will stay obtainable as common on all days, following the prevailing pointers.
This determination comes after the government of Maharashtra declared the day as a public vacation underneath Section 25 of the Negotiable Instruments Act, of 1881.
In a press launch dated September 14, 2024, RBI has said, “Accordingly, there will be no transactions and settlements in Government securities, foreign exchange, money markets and rupee interest rate derivatives on September 18, 2024. Settlement of all outstanding transactions due on September 18, 2024 (Wednesday) will get postponed to the next working day, i.e., September 19, 2024 (Thursday).”
The RBI additionally talked about that the beforehand declared public vacation on September 16, 2024, has been cancelled. This change comes after the Maharashtra government shifted the Eid-e-Milad vacation from September 16, 2024, to September 18, 2024.
The central financial institution additional clarifies, “The Government securities market, foreign exchange market, money market and rupee interest rate derivatives market will now be operational on September 16, 2024 (Monday). The settlement of secondary market transactions in Government securities, foreign exchange market, money market and rupee interest rate derivatives market which are due on September 17, 2024, will continue to be on the same day, i.e., September 17, 2024 (Tuesday).”
Regarding the settlement of government securities auctions, RBI states, “Settlement of the auction of Government of India Dated Securities conducted on September 13, 2024 (Friday) will take place on September 17, 2024 (Tuesday) as announced earlier. Settlement of the auction of State Government securities scheduled on September 17, 2024 (Tuesday) will now take place on September 19, 2024 (Thursday) instead of September 18, 2024 (Wednesday).”
The RBI additionally offered details about the Standing Deposit Facility (SDF) and Marginal Standing Facility (MSF) underneath the Liquidity Adjustment Facility (LAF). The amenities availed on September 13, 2024 (Friday) and scheduled to reverse on September 17, 2024 (Tuesday) will now reverse on September 16, 2024 (Monday). The SDF and MSF home windows underneath the LAF will stay obtainable as common on all days, following the prevailing pointers.
