G-Secs, Forex Market To Remain Operational On Thursday, Friday: RBI
The auction of Government of India Dated Securities scheduled on Sept. 29 will now be conducted on Sept. 28, with settlement on September 29.
Government securities, foreign exchange, money and rupee interest rate derivatives markets will remain open on Thursday and Friday, according to the Reserve Bank of India.
The Maharashtra government has declared Sept. 29 as a public holiday under Section 25 of the Negotiable Instruments Act, 1881. The public holiday on Sept. 28, 2023 declared earlier has been cancelled.
"To ensure smooth functioning of the financial markets and non-disruptive settlement of transactions especially in view of the quarter/ half year end, it has been decided, in public interest, to keep the government securities market, foreign exchange market, money market and rupee interest rate derivatives market operational on September 29, 2023 in addition to being operational on September 28, 2023," the RBI said in a statement on Wednesday.
It further said settlement of the auction of Government of India treasury bills conducted on Wednesday (Sept. 27) will take place on Sept. 29, 2023.
The auction of Government of India Dated Securities scheduled on Sept. 29 will now be conducted on Sept. 28, with settlement on September 29. The underwriting auction for sale of Government Securities will also be conducted on Sept. 28, the RBI added.
