Description

RBI announces change in public holiday from September 05 to September 08, 2025, affecting government securities, forex, money markets and rupee interest rate derivatives trading.

Summary

The Reserve Bank of India announces that the Government of Maharashtra has declared September 08, 2025 as a public holiday under the Negotiable Instruments Act, replacing the previously declared holiday on September 05, 2025. This change affects trading and settlements in government securities, foreign exchange, money markets and rupee interest rate derivatives.

Key Points

  • September 08, 2025 declared as public holiday under Section 25 of Negotiable Instruments Act, 1881
  • Previously declared holiday on September 05, 2025 has been cancelled
  • No transactions and settlements on September 08, 2025 for government securities, forex, money markets and rupee interest rate derivatives
  • Markets will now be operational on September 05, 2025
  • All outstanding settlements due on September 08 will be postponed to September 09, 2025

Regulatory Changes

Change in public holiday declaration by Government of Maharashtra under the Negotiable Instruments Act, with markets now operational on September 05, 2025 instead of September 08, 2025.

Compliance Requirements

  • Market participants must adjust settlement schedules for transactions due on September 08, 2025
  • Standing Deposit Facility (SDF) and Marginal Standing Facility (MSF) bids placed on September 04 will be reversed on September 05
  • SDF and MSF windows will be available as per revised holiday schedule

Important Dates

  • September 04, 2025: Government securities auction conducted
  • September 05, 2025: Markets operational (previously declared holiday cancelled), SDF/MSF bids reversal
  • September 08, 2025: Public holiday - no transactions or settlements
  • September 09, 2025: Settlement of postponed transactions and government securities auction

Impact Assessment

High impact on market operations with multiple segments affected including currency derivatives, government securities, forex and money markets. Settlement schedules will be disrupted with postponements to the next working day. Liquidity management operations through SDF/MSF facilities will also be adjusted according to the revised holiday schedule.

Impact Justification

Market closure affecting multiple segments including currency derivatives, government securities, forex and money markets with settlement postponements