Sat Sep 14 17:57:11 UTC 2024: ## RBI Shifts Public Holiday Dates for Financial Markets Due to Eid-e-Milad Change

The Reserve Bank of India (RBI) has announced a change in public holiday dates for financial markets following the Maharashtra government’s decision to reschedule the Eid-e-Milad public holiday.

Initially scheduled for Monday, September 16, 2024, the Eid-e-Milad holiday has been moved to Wednesday, September 18, 2024, to ensure peaceful celebrations and social harmony with the Hindu festival of Anant Chaturdashi observed on Tuesday, September 17.

As a result, the RBI has adjusted the trading and settlement schedules for government securities (G-Sec), foreign exchange (Fx), money markets, and rupee interest rate derivatives. All transactions and settlements originally planned for September 18 will now take place on September 19, while the markets will operate on September 16.

The RBI has also adjusted the settlement dates for various transactions, including the auction of G-Secs and State Government securities, and the reversal of the Standing Deposit Facility (SDF) and Marginal Standing Facility (MSF) under the Liquidity Adjustment Facility (LAF).

The revised schedule aims to accommodate the shifted public holiday while maintaining smooth operations within the financial markets.

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