Description

Government of Maharashtra declares January 15, 2026 as public holiday under Negotiable Instruments Act, 1881. Settlement schedule changes to be communicated subsequently.

Summary

The Government of Maharashtra has declared January 15, 2026 as a public holiday under Section 25 of the Negotiable Instruments Act, 1881. This will result in a settlement holiday for BSE clearing and settlement operations. The Indian Clearing Corporation Ltd. will communicate revised settlement schedules subsequently.

Key Points

  • January 15, 2026 declared as public holiday by Government of Maharashtra
  • Declaration made under Section 25 of the Negotiable Instruments Act, 1881
  • Settlement operations will be affected on this date
  • Revised settlement schedules will be communicated separately
  • Notice issued by Indian Clearing Corporation Ltd.

Regulatory Changes

No permanent regulatory changes. This is a one-time public holiday declaration affecting settlement operations.

Compliance Requirements

  • Market participants should note the settlement holiday on January 15, 2026
  • Participants should await subsequent communication regarding revised settlement schedules
  • Payment and settlement obligations should be adjusted according to the revised schedule once communicated

Important Dates

  • January 15, 2026: Settlement holiday (public holiday)
  • Notice Date: January 09, 2026
  • Revised settlement schedules to be communicated subsequently

Impact Assessment

Operational Impact: All settlement operations scheduled for January 15, 2026 will be affected. This includes payment obligations, securities delivery, and other clearing activities.

Market Participants: Trading members, clearing members, and custodians need to adjust their settlement expectations and cash flow planning for transactions that would have settled on this date.

Timeline: The settlement holiday will cause a one-day shift in settlement cycles for affected transactions. Detailed revised schedules will be provided in a subsequent circular.

Scope: Applies to all segments where January 15, 2026 was scheduled as a settlement date under normal settlement cycles.

Impact Justification

Settlement holiday impacts all market participants by affecting settlement schedules and payment processing, but is a routine administrative matter with advance notice.