The Reserve Bank of India (RBI) announced on Friday that money markets will be closed on January 22. The decision is in accordance with the Maharashtra government's declaration of January 22 as a public holiday under Section 25 of the Negotiable Instruments Act, 1881.
As a result of the public holiday, there will be no transactions and settlements in various financial instruments, including government securities (primary and secondary), foreign exchange, money markets, and Rupee Interest Rate Derivatives on January 22. The settlement of all outstanding transactions is expected to be postponed to the next working day, which is January 23. Participants in the financial markets are advised to take note of this closure and adjust their activities accordingly.
(With Agency Inputs)
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