New Delhi: Stock markets as well as banks in several states will remain today, August 27 (Wednesday on account of Ganesh Chaturthi.
Several cities will see bank branch closures for Ganesh Chaturthi and other regional observances such as Samvatsari, Varasiddhi Vinayaka Vrata, and Ganesh Puja.
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States where branches will remain closed are: Ahmedabad (Gujarat), Belapur, Mumbai, Nagpur (Maharashtra), Bengaluru (Karnataka), Bhubaneswar (Odisha), Chennai (Tamil Nadu), Hyderabad (Telangana), Panaji (Goa), and Vijayawada (Andhra Pradesh).
Furthermore, you must note that the banks will NOT be closed for all the days consecutively in all states or regions. This is the total number of days when banks in different parts of the country will remain closed for state-observed holidays. For instance banks will be closed for Birthday of Birthday of Maharaja Bir Bikram Kishore Manikya Bahadur in Agartala, but in other states it will NOT be closed for the same reason.
Reserve Bank of India places its Holidays under three brackets –Holiday under Negotiable Instruments Act; Holiday under Negotiable Instruments Act and Real Time Gross Settlement Holiday; and Banks’ Closing of Accounts. However, it must be noted that the bank holidays vary in various states as well not observed by all the banking companies. Banking holidays also depend on the festivals being observed in specific states or notification of specific occasions in those states.
Since this is a state holiday in Maharashtra, where both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) are headquartered, the Indian stock markets will remain closed for the day.
There will be no trading or settlement on the NSE and BSE this Wednesday across all segments, including stocks, derivatives, and securities lending and borrowing (SLB).
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