The Reserve Bank of India (RBI) has announced a change in the holiday date on the occasion of Bakrid. RBI has rescheduled Bakrid holiday. Now this holiday will be on June 29 instead of June 28.
The Reserve Bank of India (RBI) has announced a change in the holiday date on the occasion of Bakrid. RBI has rescheduled Bakrid holiday. Now this holiday will be on June 29 instead of June 28. The RBI issued a press release on June 27 saying that there would be no transactions and settlements in the government securities, forex and money markets on June 29, as there would be a change to a public holiday. According to the RBI statement, all the settlements that were to happen on June 29 will now happen on the next business day i.e. June 30. That is, banks will remain closed on June 29 in most parts of the country.
The stock market will remain closed on June 29
Earlier today, the Maharashtra government announced a change in holidays from June 28 to June 29 on account of Bakrid (Id-ul-Adha). Here, the stock market has also been declared a holiday on June 29 instead of June 28. The country’s major stock exchanges BSE and National Stock Exchange (NSE) said they will remain closed on June 29 on account of Eid-ul-Azha or Bakrid. Earlier the market was going to remain closed on June 28.
What did RBI say
The central bank said the period for operational transactions of the Standing Deposit Facility (SDF) and Marginal Standing Facility (MSF) under the Liquidity Adjustment Facility (LAF) on June 27 will be extended by one day. At the same time, the operational transaction period of June 28 will be extended for two days. Similarly, the SDF and MSF windows under LAF will be available as usual on June 29.
