Change in Public Holiday under Negotiable Instrument Act – No Transactions and Settlement in Government Securities, Forex and Money Markets on June 29, 2023
The Government of Maharashtra has declared June 29, 2023 as a public holiday under Section 25 of the Negotiable Instruments Act, 1881. The public holiday on June 28, 2023 declared earlier has been cancelled. Accordingly, there will be no transactions and settlements in Government securities, foreign exchange, money markets and rupee interest rate derivatives on June 29, 2023. Settlement of all outstanding transactions due on June 29, 2023 will accordingly get postponed to the next working day i.e., June 30, 2023.
Settlement of the auction of state government securities conducted on June 27, 2023, will take place on June 28, 2023. The auction of Government of India treasury bills scheduled on June 29, 2023 will now be conducted on June 28, 2023, with settlement on June 30, 2023.
The tenor for transactions of Standing Deposit Facility (SDF) and Marginal Standing Facility (MSF) operations under the Liquidity Adjustment Facility (LAF) for June 27, 2023 will be modified to one day and that of June 28, 2023 will be modified to two days. Further, the SDF and MSF windows under the LAF will be available as usual on June 29, 2023.
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