Indian Bank Holidays 2010 – Orissa

Indian Bank Holidays 2010 – Orissa 

Banking Holidays in India are to be declared under Negotiable Instrument Act, 1881.

Sec 25 of that Act speaks of that: 

QUOTE

25. When day of maturity is a holiday. When the day on which a promissory note or bill of exchange is at maturity is a public holiday, the instrument shall be deemed to be due on the next preceding business day. 17 Explanation.-The expression " public holiday " includes Sundays: 1** * and any other day declared by the 2[Central Government], by notification in the Official Gazette, to be a public holiday

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This is precisely the reason why the declaration has to be made either by the Central or State Governments.

Normally, the respective State Governments declare Banking Holidays under Sec 25 of Negotiable Instrument Act, 1881.

This power is delegated to the State Governments by the Central Government.

I reproduce here below, Indian  Bank Holidays for the Year 2010 – Orissa

As declared by the Government of Orissa

 QUOTE

 

HR & Industrial Relations

No.CIR/HR&IR/H6/2009-10/2105

November 25, 2009

All Members of the Association

      (Designated Officers)

Dear Sirs,

Public Holidays for the Year 2010

in the State of Orissa

We enclose a copy of the Government Notification dated 11.11.2008(9) containing the list of public holidays declared under the Negotiable Instruments Act, 1881 in the State of Orissa for the Year 2010.

In the said list, the Government of Orissa  has declared 31^st March 2010 instead of 1^st April 2010 as public holiday to enable the banks to close their annual accounts.  Accordingly, we have taken up the matter with the Government of Orissa with a request to issue an amended notification declaring Thursday,  the 1^st April 2010 as public holiday to enable banks to close their annual accounts.  On receipt of such notification, we shall advise member banks.

We have to clarify that ‘public holiday’ declared by Central/State Governments/ Union Territory, includes ‘Sundays’ as indicated under the explanation to Section 25 of the Negotiable Instruments Act.

Branches of banks working on Sundays observe their weekly-off on any other day of the week as decided by the Bank and notified to members of staff and public.  Therefore, all Sundays will be working days for Sunday working branches, except those Sundays declared as holidays by the Central/ State Government/ Union Territory for a specified festival/occasion in a particular year, under the Negotiable Instruments Act.

Yours faithfully,

(K Ganesan)

Vice President

Encl.

c.c.to:  Associate Members

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