Description

ICCL announces 19 settlement holidays for calendar year 2026, including major festivals and national holidays.

Summary

The Indian Clearing Corporation Limited (ICCL) has announced the list of settlement holidays for the calendar year 2026. Members and Custodians will observe 19 settlement holidays during 2026, covering major national, religious, and state festivals. Additionally, 4 holidays fall on weekends (Saturday/Sunday) and are separately listed for reference.

Key Points

  • Total of 19 settlement holidays scheduled for 2026
  • Holidays include national festivals (Republic Day, Independence Day), religious festivals (Diwali, Holi, Eid), and state-specific observances
  • Four additional holidays falling on weekends: Mahashivratri, Ramzan-Id, Independence Day/Parsi New Year, and Diwali Amavasya
  • Settlement operations will be closed on these dates
  • Notice issued by Tajindersingh Virdi, Assistant Vice President, ICCL

Regulatory Changes

No regulatory changes. This is a routine annual announcement of the settlement holiday calendar.

Compliance Requirements

  • Members and Custodians must plan their settlement operations around the declared holidays
  • Ensure adequate arrangements for settlement obligations before and after holiday periods
  • Update internal systems and calendars to reflect the 2026 holiday schedule

Important Dates

2026 Settlement Holidays:

  • January 26 (Monday) - Republic Day
  • February 19 (Thursday) - Chhatrapati Shivaji Maharaj Jayanti
  • March 3 (Tuesday) - Holi (Second Day)
  • March 19 (Thursday) - Gudi Padwa
  • March 26 (Thursday) - Ram Navami
  • March 31 (Tuesday) - Mahavir Jayanti
  • April 1 (Wednesday) - Annual Bank Closing
  • April 3 (Friday) - Good Friday
  • April 14 (Tuesday) - Dr. Babasaheb Ambedkar Jayanti
  • May 1 (Friday) - Maharashtra Din/Buddha Pournima
  • May 28 (Thursday) - Bakri ID (Id-Uz-Zuha)
  • June 26 (Friday) - Moharum
  • August 26 (Wednesday) - Id-E-Milad
  • September 14 (Monday) - Ganesh Chaturthi
  • October 2 (Friday) - Mahatma Gandhi Jayanti
  • October 20 (Tuesday) - Dussera
  • November 10 (Tuesday) - Diwali (Bali Pratipada)
  • November 24 (Tuesday) - Guru Nanak Jayanti
  • December 25 (Friday) - Christmas

Holidays on Weekends:

  • February 15 (Sunday) - Mahashivratri
  • March 21 (Saturday) - Ramzan-Id
  • August 15 (Saturday) - Independence Day/Parsi New Year
  • November 8 (Sunday) - Diwali Amavasya (Laxmi Pujan)

Impact Assessment

Operational Impact: Members and custodians need to plan settlement cycles, fund management, and liquidity arrangements considering these holidays. Back-to-back holidays may require extended pre-funding.

Market Impact: Low direct market impact as this is a routine calendar announcement. However, settlement schedules affect fund flow planning and operational readiness for all market participants.

Planning Considerations: Several holidays fall on Thursdays and Fridays, potentially creating extended weekends. Multiple holidays in March-April period require careful settlement planning.

Impact Justification

Routine annual announcement of settlement holidays. Medium impact as it affects settlement operations throughout 2026 but is expected and planned for by market participants.