The Reserve Bank of India (RBI) has announced that money markets will remain closed for the entire day on January 22, on account of the Pran Pratishtha ceremony at the Ram Mandir.
The decision comes after the Maharashtra government declared January 22 a public holiday under Section 25 of the Negotiable Instruments Act, 1881. This update supersedes the previous RBI statement, which had said that money markets would be open from 2:30 pm to 5:00 pm on that day.
“There will be no transactions and settlements in Government securities (primary and secondary), foreign exchange, money markets and Rupee Interest Rate Derivatives on January 22,” RBI said.
Settlement of all outstanding transactions will accordingly get postponed to the next working day i.e., January 23, it added.
This is a developing story. Please get back to check for updates.
