In a press release dated September 14, 2024, RBI says, “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 public holiday on September 16, 2024, declared earlier has been cancelled, says RBI. Earlier, the Maharashtra government has moved the Eid-e-Milad holiday from September 16, 2024 to September 18, 2024.
“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),” the central bank adds.
“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),” RBI says.
The Standing Deposit Facility (SDF) and Marginal Standing Facility (MSF) under the Liquidity Adjustment Facility (LAF) which were availed on September 13, 2024 (Friday) and scheduled to reverse on September 17, 2024 (Tuesday) will now reverse on September 16, 2024 (Monday). Further, the SDF and MSF windows under the LAF will be available as usual on all days per the extant guidelines, RBI mentions.
Maharashtra govt shifts Eid-e-Milad holiday in Mumbai from September 16 to 18
According to a report by the Economic Times, the Maharashtra Government stated in an official notification dated August 13, 2024, “Among the 24 public holidays notified by the State Government, the Eid-e-Milad holiday is indicated on Monday, September 16, 2024. Eid-e-Milad, a religious festival of Muslims, is widely celebrated by the Muslim community on a large scale. A procession program is organised on this occasion. On Tuesday, September 17th, 2024, since there is the Hindu festival of Anant Chaturdashi, to maintain peace and social harmony between the two communities, the Muslim Community has decided to organise the procession program on Wednesday, 18th September, 2024. Therefore, the public holiday of Eid-e-Milad is being declared on Wednesday, September 18, 2024, instead of Monday, September 16, 2024.”
