Maharashtra Elections 2024: Will banks remain open on voting day, November 20?
By Gargi Chaudhry | First Published Nov 18, 2024, 10:47 AM ISTMaharashtra Assembly Elections 2024 are scheduled for November 20, leading to bank closures in the state. Financial services will remain accessible through ATMs, internet banking, and UPI. Both BSE and NSE will also be closed on the election day.
The Maharashtra Assembly Elections 2024 are scheduled on November 20. The voting for 288 seats in the state will be conducted in a single phase and the counting of votes will be held on November 23. As per the Reserve Bank of India holiday list, banks will remain closed in the state due to the Assembly General Election 2024.
Will banks be closed?
Notably, citizens may still access financial services through ATMs, internet banking, and UPI systems even though physical offices in the listed states will be shuttered. Online transactions continue to function for urgent banking needs, guaranteeing that services are accessible even on holidays.
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The month November had in total 12 holidays including religious festivals and regional events, Sundays, weekends, and other occasions. To guarantee that people can cast their ballots, the Brihanmumbai Municipal Corporation (BMC) in Mumbai declared November 20 a holiday for all personnel working in offices and enterprises inside BMC boundaries.
Stock market to open?
The Bombay Stock Exchange (BSE) and National Exchange (NSE) will not be open for business on November 20 in the aftermath of the Assembly Elections. Therefore, there won't be any activity in the SLB, equity, or equity derivative segments.
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About Maharashtra Elections 2024
The current term of the Maharashtra Legislative Assembly ends on November 26. Two coalitions will compete in the state: the Mahayuti Alliance, which consists of BJP, Shiv Sena (Eknath Shinde), and NCP (Ajit Pawar); and the Maha Vikas Aghadi (MVA), which consists of Uddhav Thackeray's Shiv Sena (UBT), NCP (Sharad Pawar), and Congress. The BJP won 105 seats, the Shiv Sena 56, and the Congress 44 in the 2019 elections.
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