If you still have a Rs 2000 note in your possession and plan on exchanging it at the bank today, then you have stumbled upon the right article. The Reserve Bank of India (RBI) has announced that Rs 2000 notes will not be exchanged in certain cities across the country today. If you intend to visit the bank for this purpose, make sure to check out the list.
Many parts of the country, including Mumbai, are observing a bank holiday today due to Eid-ul-Milad and Ganesh Chaturthi, resulting in the suspension of bank operations. Some individuals are also curious if the stock market will be closed today; we will clarify which cities will have bank closures according to the RBI.
Originally, the bank holiday was scheduled for September 28th in honour of Eid-e-Milad. However, the RBI’s decision led to its cancellation. Thursday’s holiday has been rescheduled to Friday, September 29th. Therefore, the bank holiday for Eid-e-Milad will now fall on Friday.
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Why did the RBI make this decision?
The Maharashtra government delayed Eid Milad-un-Nabi’s holiday by one day, rescheduling it for Friday, September 29th instead of Thursday. On September 28th, both the official state holidays of Anant Chaturdashi for Ganesh Visarjan and Eid Milad-un-Nabi were set to occur simultaneously, and both festivals involve extensive processions, potentially causing disruptions.In response, a holiday had to be announced. When the Maharashtra government extended the holiday, the RBI also extended the bank holiday in the state to September 29th. Consequently, there will be a bank holiday in Maharashtra on September 29th. Additionally, banks will remain closed in Gangtok and Jammu-Srinagar on Friday, and the exchange of Rs 2000 notes will not be possible.
Will the stock market be affected?
As a result of the bank holiday in Maharashtra, some are wondering if the stock market will also be closed when banks are not operating. It’s important to note that Eid Milad-un-Nabi is not an official holiday for the stock market. After the Ganesh Chaturthi holiday, the next equity market holiday is Gandhi Jayanti on October 2nd.
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