Produced by: Harshita Designed by: Somya Muralidharan
Both public and private sector banks will be shut in many states for Bakri Id or Eid-Al-Adha today (June 29).
The Reserve Bank of India (RBI) puts holidays under three categories- Holiday under the Negotiable Instruments Act; Holidays under the Negotiable Instruments Act and Real-Time Gross Settlement Holidays; and Banks’ Closing of Accounts.
According to RBI's website the Bakri Eid (Eid Ul Adha) comes under Holiday under Negotiable Instruments Act.
New Delhi, Srinagar, Chandigarh, Imphal, Jaipur, Ahmedabad, Agartala, Bengaluru, Aizawl, Panaji, Patna, Chennai, Dehradun, Hyderabad, Ranchi, Jammu, Kolkata, Lucknow, Shillong, Shimla, Bhopal, Guwahati, Kanpur
The bank holiday in Maharashtra for Eid Ul-Adha was also postponed to June 29, 2023 (Thursday), as per the Reserve Bank of India’s bank holiday page. “The Government of Maharashtra has declared June 29, 2023 as a public holiday under Section 25 of the Negotiable Instruments Act, 1881. The public holiday on June 28, 2023 declared earlier has been cancelled," the RBI press release read.
Public and private sector banks will remain shut for 15 days in July. Banks will be closed for Muharram, Guru Hargobind Ji’s birthday, Ashoora, and Ker Pooja.
The stock markets will also be closed and trading will remain suspended on BSE and NSE today (June 29) on account of Bakri Eid, instead of Wednesday. “The settlement schedule shall be intimated separately by respective clearing corporations,” NSE said in a circular.
The currency markets will also remain shut on Thursday. Commodity markets will also remain closed in the morning session, but trading will resume in the evening session from 5 pm onwards. For the commodity derivative segment as well, trading will be unavailable in morning and available in evening.
India's first listed exchange, Multi Commodity Exchange of India Limited (MCX), will also remain closed for trading in the morning session. Trading will resume in evening sessions on June 29, 2023.