RBI Notification
According to the RBI’s circular issued on September 4, the change was made after the Maharashtra government declared September 8 as a public holiday under the Negotiable Instruments Act, 1881.
As per the revised schedule:
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All transactions in government securities, foreign exchange, money markets, and rupee interest rate derivatives will remain closed on September 8.
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Transactions due on September 8 will be settled on the next working day, September 9 (Tuesday).
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The Standing Deposit Facility (SDF) and Marginal Standing Facility (MSF) will function as per updated guidelines.
What happens on September 5?
The holiday earlier listed for September 5 has been cancelled in Mumbai and its suburban districts. Banks and markets will operate as usual on that day.
Why was the holiday shifted?
The Maharashtra government decided to move the Eid-e-Milad holiday in Mumbai and surrounding areas after discussions with the Muslim community. The procession will now take place on September 8 instead of September 5.
The change also avoids an overlap with Anant Chaturdashi on September 6, when Ganesh idol immersions will be carried out across the city.
For other districts in Maharashtra, however, the holiday on September 5 will remain unchanged.
✅ Quick Takeaway:
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Mumbai & Suburbs: Bank holiday on September 8.
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Rest of Maharashtra: Bank holiday on September 5.