Indian Bank Holidays 2010 – West Bengal
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
UNQUOTE
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 – West Bengal
As declared by the Government of West Bengal
HR & Industrial Relations
No.CIR/HR&IR/H6/2009-10/2176
December 1, 2009
All Members of the Association
(Designated Officers)
Dear Sirs,
Public Holidays for the Year 2010
in the State of West Bengal
We enclose a copy of the Government Notification containing the list of public holidays declared under the Negotiable Instruments Act, 1881 in the State of West Bengal
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,
(M Venugopalan)
Officer-on-Special Duty
Encl.
c.c.to: Associate Members
UNQUOTE
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