The Reserve Bank of India has decided to keep the Government securities market, foreign exchange market, money market and rupee interest rate derivatives market operational on September 29, 2023, to ensure the smooth functioning of the financial markets and non-disruptive settlement of transactions, especially in view of the quarter / half-year end.
The central bank noted that the Maharashtra government had declared September 29, 2023 as a public holiday under Section 25 of the Negotiable Instruments Act, 1881. The public holiday on September 28, 2023, declared earlier, has been cancelled.
RBI said financial markets will be operational on September 29, 2023 in addition to being operational on September 28, 2023.
Settlement of the auction of Government of India treasury bills conducted on September 27, 2023 will take place on September 29, 2023.
The auction of Government of India dated securities scheduled on September 29, 2023 will now be conducted on September 28, 2023, with settlement on September 29, 2023. The underwriting auction for sale of Government Securities will also be conducted on September 28, 2023.
The settlement of secondary market transactions in Government securities, foreign exchange market, money market and rupee interest rate derivatives market, which were due on September 29, 2023, will continue to be on the same day -- September 29, 2023.
The tenor for transactions of Standing Deposit Facility (SDF) and Marginal Standing Facility (MSF) operations under the Liquidity Adjustment Facility (LAF) for September 27 and 28 will be one day, and that for September 29 will be four days.