No Settlements in Government Securities, Forex, and Money Markets on September 18
Monday, 16 September 2024, 20:55
Impact of September 18 Public Holiday
The Reserve Bank of India (RBI) has confirmed that all transactions involving government securities, Forex, and money markets will be suspended on September 18, 2024. This decision comes in light of a public holiday declared by the Maharashtra government.
Reasons Behind the Holiday
The holiday is established under Section 25 of the Negotiable Instruments Act, 1881. As a consequence, all trading and settlements are halted, affecting various financial operations.
Financial Implications
- Delayed Settlements: The hiatus may lead to a backlog of transactions.
- Market Reactions: Traders may face heightened volatility post-holiday.
- Regulatory Adjustments: Financial institutions will need to adjust their operations accordingly.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.