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 Himachal Pradesh during the year 2012 -
Section 25 of the Negotiable Instruments Act, 1881
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 Himachal Pradesh for the Year
2012.
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.
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.
