Mumbai: India’s central bank said there will be no business in foreign currencyThe bond and currency markets on January 22, as Maharashtra State Government has declared a public holiday, while settlement of outstanding transactions will be postponed till January 23.
The Reserve Bank of India said the state government has declared Monday a public holiday under Section 25 of the Negotiable Instruments Act, 1881.
The central bank said the 3-day variable rate repo auction announced earlier in the day has been canceled and the two-day VRR auction will now be held on January 23.
“An additional issue each of the Standing Deposit Facility (SDF) and Marginal Standing Facility (MSF) is being made available with reversal on January 23, 2024 (Tuesday).” reserve Bank of India Said.
Earlier in the day, the RBI said trading in FX, bonds, interest rate and currency derivatives, call money, commercial paper and certificate of deposits markets will be conducted from 2:30 pm to 5:00 pm on Monday.
The central government has announced a half-day closure of all central government offices, central institutions and central industrial establishments till 2:30 pm on January 22 on the occasion of the inauguration of Ram Temple.
The markets will resume their normal timing from January 23.