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 Andaman and Nicobar Islands during the year
2012 - Section 25 of the Negotiable Instruments Act, 1881
Public
Holidays for the Year 2012 in the Union Territory of Andaman &
Nicobar
Please
find enclosed a copy of the Government Notification
containing the list of public holidays declared under the Negotiable
Instruments Act, 1881 in the Union Territory of Andaman & Nicobar
for the Year 2012.
In
the said list, the Government of Orissa has not declared Monday, 2nd
April 2012 as public holiday to
enable the banks to close their annual accounts and Saturday, 29th
September 2012 as public holiday for
half yearly closing of bank accounts. Accordingly, we have taken up
the matter with the Government of Andaman & Nicobar 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. On receipt of
such notification, we shall advise member banks.
