RBI issued a press release today stating that the Government of Maharashtra has declared June 29, 2023, as a public holiday under Section 25 of the Negotiable Instruments Act, of 1881.
The Maharashtra Government declared a public holiday on June 28, 2023, earlier, that has been now canceled. Settlement of the auction of state government securities conducted on June 27, 2023, will take place on June 28, 2023.
Accordingly, there will be no transactions and settlements in Government securities, foreign exchange, money markets, and rupee interest rate derivatives on June 29, 2023. Settlement of all outstanding transactions due on June 29, 2023, will accordingly get postponed to the next working day i.e., June 30, 2023.
“The tenor for transactions of Standing Deposit Facility (SDF) and Marginal Standing Facility (MSF) operations under the Liquidity Adjustment Facility (LAF) for June 27, 2023, will be modified to one day and that of June 28, 2023, will be modified to two days. Further, the SDF and MSF windows under the LAF will be available as usual on June 29, 2023” RBI said.
