Description
ICCL announces settlement holidays for calendar year 2026, including 19 holidays falling on weekdays and 4 holidays falling on weekends.
Summary
Indian Clearing Corporation Limited (ICCL) has notified members and custodians of settlement holidays for calendar year 2026. A total of 19 holidays will be observed on weekdays, plus 4 additional holidays falling on Saturday/Sunday. This schedule enables market participants to plan their settlement and operational activities for the upcoming year.
Key Points
- 19 settlement holidays falling on weekdays in 2026
- 4 holidays falling on weekends (Saturday/Sunday)
- Covers national holidays, religious festivals, and state-specific observances
- Applicable to all ICCL settlement operations
- Notice issued on December 22, 2025 for advance planning
Settlement Holidays on Weekdays (2026)
- Republic Day - January 26, 2026 (Monday)
- Chhatrapati Shivaji Maharaj Jayanti - February 19, 2026 (Thursday)
- Holi (Second Day) - March 3, 2026 (Tuesday)
- Gudi Padwa - March 19, 2026 (Thursday)
- Ram Navami - March 26, 2026 (Thursday)
- Mahavir Jayanti - March 31, 2026 (Tuesday)
- Annual Bank Closing - April 1, 2026 (Wednesday)
- Good Friday - April 3, 2026 (Friday)
- Dr. Babasaheb Ambedkar Jayanti - April 14, 2026 (Tuesday)
- Maharashtra Din/Buddha Pournima - May 1, 2026 (Friday)
- Bakri ID (Id-Uz-Zuha) - May 28, 2026 (Thursday)
- Moharum - June 26, 2026 (Friday)
- Id-E-Milad - August 26, 2026 (Wednesday)
- Ganesh Chaturthi - September 14, 2026 (Monday)
- Mahatma Gandhi Jayanti - October 2, 2026 (Friday)
- Dussera - October 20, 2026 (Tuesday)
- Diwali (Bali Pratipada) - November 10, 2026 (Tuesday)
- Guru Nanak Jayanti - November 24, 2026 (Tuesday)
- Christmas - December 25, 2026 (Friday)
Holidays Falling on Weekends
- Mahashivratri - February 15, 2026 (Sunday)
- Ramzan-Id (Id-Ul-Fitra) - March 21, 2026 (Saturday)
- Independence Day/Parsi New Year (Shahenshahi) - August 15, 2026 (Saturday)
- Diwali Amavasya (Laxmi Pujan) - November 8, 2026 (Sunday)
Regulatory Changes
No regulatory changes. This is an annual administrative notice providing the settlement holiday calendar.
Compliance Requirements
- Members and custodians must plan settlement operations around the specified holidays
- Ensure adequate operational planning for extended weekends and holiday clusters
- Adjust settlement cycles and timelines for transactions occurring before holidays
- Update internal systems and calendars with the 2026 holiday schedule
Important Dates
- Notice Date: December 24, 2025
- Applicable Period: January 1, 2026 to December 31, 2026
- First Holiday: Republic Day - January 26, 2026
- Last Holiday: Christmas - December 25, 2026
Impact Assessment
Operational Impact: Medium - Market participants must incorporate these holidays into their settlement planning and operational schedules. Several holiday clusters (late March-early April, October-November) require careful planning for liquidity and settlement management.
Market Impact: Low - This is routine annual information that enables advance planning. No impact on trading rules or settlement mechanisms, only affects settlement timing on specific dates.
Planning Considerations: Members should note the concentration of holidays in March-April (7 holidays) and plan accordingly for extended settlement cycles during these periods.
Impact Justification
Annual calendar notice affecting settlement operations throughout 2026. Medium impact as it affects all market participants' operational planning but is routine administrative information.