Money Markets to Remain Shut on January 22 for Ram Mandir ‘Pran Pratistha’ Ceremony: RBI

New Delhi: The Reserve Bank of India (RBI) has announced the suspension of money market operations on Monday, January 22, following the public holiday declared by the Maharashtra government for the Ram Mandir consecration ceremony. The suspension encompasses transactions and settlements in Government securities, foreign exchange, money markets, and Rupee Interest Rate Derivatives.

In a statement, the RBI clarified that there will be no trading on January 22, with the settlement of all outstanding transactions postponed to the next working day, January 23, 2024.

Earlier in the day, the RBI had adjusted the trading hours for money markets on January 22 to be from 2:30 pm to 5 pm. This modification was prompted by the Central government’s notice announcing half-day working hours for all Central government offices on Monday in observance of the Ram Mandir Pran Pratishtha.

Notably, Maharashtra, home to the National Stock Exchange and Bombay Stock Exchange, has declared a public holiday on January 22. Similar decisions have been made by the governments of Uttar Pradesh, Chhattisgarh, Madhya Pradesh, Haryana, and Goa, all marking January 22 as a public holiday.