RBI shifts T-Bill auction, settlement date after Bakri Eid holiday date change

RBI shifts T-Bill auction, settlement date after Bakri Eid holiday date change

The Reserve Bank of India on Tuesday said there will be no transactions and settlements in government securities, foreign exchange, money markets and rupee interest rate derivatives on June 29 as the Maharashtra government has declared a public holiday for Bakri-Eid on that day.

Settlement of all outstanding transactions due on June 29 will be postponed to the next working day, June 30. Subsequently, settlement of the auction of state government securities conducted on June 27 will take place on June 28, and auction of treasury bills scheduled on June 29 will also be conducted on June 28, 2023, with settlement scheduled for June 30.

In a similar move, stock exchanges National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) will also remain closed on June 29, instead of June 28 for Bakri Eid, the NSE said in a circular. The currency derivatives segment, NDS-RST and Tri-Party Repo are also expected to remain shut while the commodity derivatives segment and electronic gold receipts (EGR) segment may stay closed for the morning session only.