Stock exchanges will remain closed on Monday as there will be a stock market holiday on the occasion of Ram Mandir inauguration in Ayodhya, Uttar Pradesh. On Friday, the exchanges declared a holiday under Section 25 of the Negotiable Instruments Act, 1881.
Due to a public holiday in Maharashtra state, NSE and BSE will remain closed on 22 January and will resume trading on Tuesday, 23 January.
The commodity markets will remain closed for the first half and will open in the second half at 5 pm on 22 January 2024.
According to the official release of RBI, there will be no transactions and settlements in Government Securities (primary and secondary), foreign exchange, money market, and Rupee Interest Rate Derivatives on 22 January.
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"Settlement of all outstanding transactions will accordingly get postponed to the next working day i.e., January 23, 2024 (Tuesday)," the RBI said.
Apart from that, several states including Uttar Pradesh, Haryana, Madhya Pradesh, Chhattisgarh, Tripura, and Goa have declared holiday for their offices and educational institutes on 22 January.
The Centre has announced a half-day for all its offices and PSU Banks. According to a PIB note, all Central Government Offices, Central Institutions, and Central Industrial Establishments throughout India will be closed for half-day till 2:30 pm on 22nd January 2024.
Public sector banks, insurance companies, financial institutions, and regional rural banks will remain closed for half-day till 2:30 pm on Monday. Private Banks in Uttar Pradesh will also remain closed, as per RBI notice. However, private banks in other states will open and function until regular timings.
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