Ayodhya Prana Pratishta Ceremony: RBI Announces Half-Day Holiday on January 22
The Reserve Bank of India (RBI) has declared a half-day holiday on January 22, in observance of the Ayodhya Prana Pratishta ceremony. The holiday extends until 2:30 pm, affecting various sectors, including financial institutions and the stock market. Consequently, the stock market, which typically commences operations at 9 am, will resume activities from 2:30 pm on the specified day.
Regulated by the central bank, several markets fall under the ambit of this holiday announcement. These markets include call/notice/term money, market repo in government securities, tri-party repo in government securities, commercial paper and certificates of deposit, and repo in corporate bonds, government securities, and foreign exchange.
In addition to the financial markets, public sector banks, insurance companies, financial institutions, and local rural banks will observe the half-day holiday until noon on January 22. This announcement aligns with the significance of the Ayodhya Prana Pratishta ceremony, acknowledging the cultural and religious importance of the event.
The holiday declaration ensures that institutions and markets under the regulatory purview of the RBI have ample time to observe and participate in the events related to the Ayodhya Prana Pratishta ceremony. The move reflects the central bank’s commitment to accommodating such cultural and religious observances while maintaining the operational efficiency of the financial sector.
As the nation prepares for the historic ceremony in Ayodhya, the RBI’s holiday announcement serves as a reminder of the diverse tapestry of traditions and celebrations that contribute to India’s cultural richness.
