In a press release dated September 14, 2024, the RBI said: “Accordingly, there will be no transactions or settlements in government securities, foreign exchange, money markets and rupee interest rate derivatives on September 18, 2024. Settlement of all outstanding transactions falling due on September 18, 2024 (Wednesday) will be postponed to the next working day i.e. September 19, 2024 (Thursday).”
The public holiday of September 16, 2024, declared earlier, has been cancelled, says RBI. The Maharashtra government has shifted the Eid-e-Milad holiday from September 16, 2024, to September 18, 2024.
“Government securities market, foreign exchange market, money market and rupee interest rate derivatives market will be operational from September 16, 2024 (Monday). Settlement of secondary market transactions in government securities, foreign exchange market, money market and rupee interest rate derivatives market maturing on September 17, 2024 will continue to be done on the same day i.e. September 17, 2024 (Tuesday),” the central bank said. bank duck.
“Settlement of auction of Government of India securities due on 13th September, 2024 (Friday) will be held on 17th September, 2024 (Tuesday) as announced earlier. Settlement of auction of State Government securities scheduled on 17th September, 2024 (Tuesday) will now be held on 19th September, 2024 (Thursday) instead of 18th September, 2024 (Wednesday),” the RBI said.
The Reserve Bank of India mentions that 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 were scheduled to be reversed on September 17, 2024 (Tuesday), will now be reversed on September 16, 2024 (Monday). Further, the SDF and MSF windows under the LAF will be available as usual on all days as per the prevailing guidelines.
Maharashtra government shifts Eid-e-Milad festival in Mumbai from September 16 to 18
According to a report by The Economic Times, The Maharashtra Government in an official notification dated August 13, 2024, stated: “Among the 24 public holidays notified by the State Government, the public holiday of Eid-e-Milad is indicated on Monday, 16th September, 2024. Eid-e-Milad, a religious festival of Muslims, is widely celebrated by the Muslim community on a large scale. A procession programme is organised on this occasion. On Tuesday, 17th September, 2024, since there is Hindu festival of Anant Chaturdashi, in order to maintain peace and social harmony between the two communities, the Muslim community has decided to organise the procession programme on Wednesday, 18th September, 2024. Therefore, the public holiday of Eid-e-Milad is declared on Wednesday, 18th September, 2024, instead of Monday, 16th September, 2024.”
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