The four anchor banks PNB, Union Bank, Canara Bank, and Indian Bank approved mergers of the other 6 PSBs and issued share-swap ratios for the proposed mergers. The details of share-swapping are as under.PNB: 1150 share of PNB for every 1000 shares of OBC 121 shares of PNB for every 1000 shares of United Bank…
The FRDI Bill launched wild rumours all over the country, sowing seeds of distrust among bank customers over a “bail-in” clause, which theoretically allowed beleaguered banks to scoop up depositors’ money to stop them from going bust. However the ill-conceived FRDI bill was withdrawn by the Government and now replaced the same by a new…
Bank holidays in India are declared to be public holidays under explanation to section 25 of the Negotiable Instrument Act (NI 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 the other States and Union territories where it…
The Government of West Bengal declared the following days to be public holidays during the year 2020 under section 25 of NI Act 1881. Sr. No Date Day Occasion/Festival Date 1 23.01.2020 Thursday BIRTHDAY OF NETAJI 2 30.01.2020 Thursday SARASWATIPUJA/SREE PANCHAMI 3 09.03.2020 Monday DOL JATRA * 01.04.2020 Wednesday Annual closing of Banks (All State…
The Government of Punjab declared the following days to be a public holiday during the year 2020 under section 25 of NI act 1881. Sr.No Date Day Occasion/Festival Date 1 26.01.2020 Sunday REPUBLIC DAY 2 21.02.2020 Friday MAHA SHIVRATRI 3 10.03.2020 Tuesday HOLI 4 01.04.2020 Wednesday BANK’S ANNUAL CLOSING OF ACCOUNTS 5 02.04.2020 Thursday RAM…
The Government of Manipur declared the following days to be a public holiday during the year 2020, under the explanation of section 25 of NI act 1881. Sr.No Date Day Occasion/Festival Date 1 01.01.2020 Wednesday NEW YEAR DAY 2 07.01.2020 Tuesday IMOINU IRALPA 3 08.01.2020 Wednesday GAAN –N GAL 4 26.01.2020 Sunday REPUBLIC DAY 5…
The Government of Telangana declared the following days as public holidays for the year 2020 under section 25 of NI Act (Negotiable Instrument Act) 1881. Sr.No Date Day Occasion/Festival Date 1 15.01.2020 Wednesday SANKRANTI/PONGAL 2 21.02.2020 Friday MAHASHIVARATRI 3 09.03.2020 Monday HOLI 4 25.03.2020 Wednesday UGADI 5 01.04.2020 Wednesday Annual closing of bank accounts 6…
The Government of Jammu & Kashmir UT declared the following days to be a public holiday during the year 2020, under the explanation of section 25 of NI act 1881. Sr.No Date Day Occasion/Festival Date 1 26.01.2020 Sunday REPUBLIC DAY 2 21.02.2020 Friday MAHA SHIVRATRI 3 09.03.2020 Monday HOLI) 4 25.03.2020 Wednesday 1st NAVRATRAI 5…
The Government of Maharashtra declared the following days as holidays for the year 2020 under section 25 of NI Act (Negotiable Instrument Act) 1881. Sr.No Date Day Occasion/Festival Date 1 19.02.2020 Wednesday CHATRAPATI SHIVAJI MAHARAJ JAYANTI 2 21.02.2020 Friday MAHASHIVARATRI 3 10.03.2020 Tuesday HOLI 2nd Day 25.03.2020 Wednesday GUDIPADVA 4 01.04.2020 Wednesday Annual closing…
The Government of Madhya Pradesh declared the following days to be a public holiday during the year 2020, under the explanation of section 25 of NI act 1881. Sr.No Date Day Occasion/Festival Date 2 21.02.2020 Friday MAHASHIVARATRI 3 10.03.2020 Tuesday HOLI 4 01.04.2020 Monday Banks’ Annual Closing of Accounts 5 06.04.2020 Monday MAHAVEERA JAYANTHI 6…