However, on September 16, 2024, which was originally declared a holiday, the markets for Government securities, foreign exchange, money, and rupee interest rate derivatives remained operational. Settlements of secondary market transactions due on September 17, 2024, will continue as scheduled on that day.
The Reserve Bank of India (RBI) announced that the Maharashtra government has declared September 18, 2024, as a public holiday under Section 25 of the Negotiable Instruments Act, 1881. This replaces the earlier public holiday announced for September 16, 2024, which has now been cancelled.
As a result, there will be no transactions or settlements in the Government securities, foreign exchange, money markets, or rupee interest rate derivatives on September 18. Transactions that were due for settlement on that date will now be processed on the next working day, September 19, 2024, according to the RBI's statement.
However, on September 16, 2024, which was originally declared a holiday, the markets for Government securities, foreign exchange, money, and rupee interest rate derivatives remained operational. Settlements of secondary market transactions due on September 17, 2024, will continue as scheduled on that day.
The settlement of Government of India Dated Securities auctioned on September 13, 2024, will occur on September 17 as previously announced. However, the settlement of State Government securities auctioned on September 17 will now take place on September 19, instead of September 18.
Additionally, the Standing Deposit Facility (SDF) and Marginal Standing Facility (MSF) under the Liquidity Adjustment Facility (LAF) availed on September 13, 2024, which were scheduled to reverse on September 17, will now be reversed on September 16. The SDF and MSF windows under the LAF will continue to be available as per the usual guidelines, said the RBI.
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