Public Holidays in the State of Goa during the year 2012 - Section 25 of the Negotiable Instruments Act, 1881

 Negotiable Instruments (NI) Act 1881 is the Basic Law regulating Indian Banking System. The Act came into existence on 01/03/1882.

It is important to remember that State Government have to specifically declare Holidays under the Section 25 of the Negotiable Instruments Act, 1881 for Banks to be closed on that particular day.

Otherwise, the Holiday is applicable only to State Government offices.

Public Holidays in the State of Goa during the year 2012 - Section 25 of the Negotiable Instruments Act, 1881

Public Holidays for the Year 2012 in the State of Goa

Please find enclosed a copy of the Government Notification containing the list of public holidays declared under the Negotiable Instruments Act, 1881 in the State of Goa for the Year 2012.

In the said list, the Government of Goa has declared Sunday, 1st April 2012 and Sunday, 30th September 2012 as public holidays for annual / half yearly closing of bank accounts respectively. Accordingly, we have taken up the matter with the Government of Goa with a request to issue an amended notification declaring Monday, 2nd April 2012 and Saturday, 29th September 2012 as public holidays to enable banks to close their annual and half yearly accounts, respectively. On receipt of such notification, we shall advise member banks.

It is clarified 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.