Bank holidays in India are declared as public holidays under explanation to section 25 of the Negotiable Instrument Act 1881. The holiday declared under NI Act is applicable exclusively to the banks located within the administration area of specific State and Union Territory. In other States and Union territories where it is not a holiday,…
RBI permits AD banks to Set-off outstanding export receivables against outstanding import payables from/to the same overseas buyer/supplier. In the Statement on Development and Regulatory Policies dated December 4, 2020, RBI announced greater flexibility to AD banks in the areas like Direct Dispatch of Shipping Documents, / “Write-off” of unrealized export bills,/ Refund of Export…
Calendar of holidays in the State of Uttarkhand for the year 2021 notified under section 25 of Negotiable instrument Act 1881 Sr.No Date Day Occasion/Festival Date 1 26.01.2021 Tuesday REPUBLIC DAY 2 11.03.2021 Thursday MAHA SHIVRATRI 3 29.03.2021 Monday HOLI 2ND DAY 4 01.04.2021 Thursday Banks are closed for public transactions (Annual closing of accounts)…