10/09/2010 - RTGS is working - 10/09/2010 - NEFT is working

10/09/2010 – RTGS is working. 10/09/2010 – NEFT is working.

Public Holiday under Negotiable Instruments Act, 1881 for the year 2010, for Ramzan is spread over two days i.e 10^th September, 2010 and 11^th September, 2010

However, RTGS/NEFT is working on 10^th but closed on 11^th September, 2010

It has been a long time, since RTGS/NEFT is closed for two days in a row.

April 14th, 2010 - 14/04/2010 - RTGS/NEFT/ECS Closed

Today morning Reserve Bank of India, announced a Holiday on April 14th, 2010 - 14/04/2010 - RTGS/NEFT/ECS Closed. This is on account of Dr.Ambedkar Jayanti.


This holiday was a bit unexpected. Anyhow, as it is in the middle of the week/also month, there should not be much  impact on the RTGS/NEFT transactions.


It should be a welcome break for the respective Bank's RTGS/NEFT centralised operations team members.


Enjoy

RTGS/NEFT/ECS are closed on 01/04/2010 – 1st April 2010

RTGS is closed on 01/04/2010 – 1st April 2010

NEFT  is closed on 01/04/2010 – 1st April 2010

ECS  is closed on 01/04/2010 – 1st April 2010

Apart from a holiday on 01/04/2010 – 1st April 2010, RTGS/NEFT/ECS are also closed on 02/04/2010.

01/04/2010, is the Annual Closing day for Indian Banks.

One moot question is that in today's computerised environment, is a Public Holiday, required to enable Banks to close their Books.

Well, till all the Bank Branches are brought under CBS(Core Banking Solution), a Public Holiday will be required to enable the Bank Branches  to close their Books of Accounts. 

There will be a series of holidays for RTGS/NEFT/ECS i.e 01/apr/2010, 02/apr/2010 and 04/02/2010.

Already the year-end rush has started from today itself i.e 29th March 2010.

This means there will be heavy rush of transactions on 3rd april and 5th april too.

Viewers are requested to plan properly their ePayments to avoid any last-minute tension.

– Try to comlete your RTGS/NEFT transactions by the afternoon of 31st March.

– This will ensure peace of mind for all the concerned parties.

No RTGS/NEFT Holiday on Ugadi/Gudi Pawadha on 16th March, 2010.

What Is UGADI?

No RTGS Holiday on Ugadi/Gudi Pawadha on 16^th March, 2010.

No NEFT Holiday on Ugadi/Gudi Pawadha on 16^thMarch, 2010.

ePayments i.e RTGS/NEFT are functioning normally on Ugadi/Gudi Pawadha on 16^th March, 2010

UGADI is a combination of two words-Yuga(era) and Aadi(beginning) according to the ancient language of Sanskrit and Kannada languages.

It simply means beginning of an era or a new year.

Ugadi/Gudi Pawadha, is celebrated mainly in South India and Maharashtra.

North India, does not celebrate this festival. Hence, no Holiday for RTGS has been declared.

This is the first major festival after the roll-out of the new timings for NEFT and the T+2 hours validation.

Normally, on holidays the staff at the RTGS/NEFT processing centers would be at a minimum. However, now with the increase in NEFT Cycles and the T+2 hours, it will be challenge to run the operations with minimum staff. All the staff would like to celebrate the festival with their family members.

Prior to 1^st March 2010, on Holidays in Maharashtra, the RTGS Special Interbank session form 7.00pm to 7.30pm, would not be there. However, with the new NEFT timings, this session will naturally be there.

In fact, the major challenges in the coming days, will be the well-being of employees operating in the Centralized Operations of Institutions.

Indian Bank Holidays 2010 –Madhya Pradesh

Bank Holidays for the Year 2010 – Madhya Pradesh

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

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, Bank Holidays for the Year 2010 –  Madhya Pradesh

As declared by the State Government of Madhya Pradesh

Bank Holidays for the Year 2010 – Goa

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

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, Bank Holidays for the Year 2010 –  Goa

As declared by the State Government of  Goa

Indian Bank Holidays 2010 – Jammu and Kashimir

Bank Holidays for the Year 2010 – Jammu and Kashimir

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

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, Bank Holidays for the Year 2010 – Jammu and Kashimir

As declared by the State Government of Jammu and Kashimir

Indian Bank Holidays 2010 – Uttharkand

Bank Holidays for the Year 2010 – Uttharkand

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

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, Bank Holidays for the Year 2010 – Uttharkand

As declared by the State Government of Uttharkand

Indian Bank Holidays 2010 – Sikkim

Bank Holidays for the Year 2010 – Sikkim

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

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, Bank Holidays for the Year 2010 – Sikkim

As declared by the State Government of Sikkim

NEFT Holidays for 2010

NEFT  Holidays for 2010
Reserve Bank of India, has declared the RTGS Holidays for 2010.
The same are reproduced below. The NEFT and RTGS Holidays are in sync now i.e if RTGS is closed, than NEFT too will be closed.

Three holidays i.e September 11, 2010 - October 02,2010 - December 25, 2010, fall on saturdays. This means that ePayments will continously be closed for 2days at a strech.
However no Holiday falls on a Monday.

 
QUOTE

 RTGS/NEFT Holidays - Year 2010

Sl. No.     Date     Day     Occasion       
1.     January 26, 2010     Tuesday     Republic Day       
2.     April 01, 2010     Thursday     Annual Closing of banks       
3.     April 02, 2010     Friday     Good Friday       
4.     July 01, 2010     Thursday     Annual Closing of RBI       
5.     September 11, 2010     Saturday     Ganesh Chaturthi / Id-Ul-Fitr       
6.     September 30, 2010     Thursday     Half-yearly closing of banks       
7.     October 02, 2010     Saturday     Mahatma Gandhi Jayanti       
8.     November 05, 2010     Friday     Diwali / Kali Puja       
9.     November 17, 2010     Wednesday     Bakri Id       
10.     December 17, 2010     Friday     Moharrum       
11.     December 25, 2010     Saturday     Christmas    
UNQUOTE

Indian Bank Holidays 2010 – Haryana  

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

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 – Haryana 

As declared by the Government of Haryana.

  

QUOTE

HR & Industrial Relations

No.CIR/HR&IR/H6/2009-10/2325

December 15, 2009

All Members of the Association

      (Designated Officers)

Dear Sirs,

Public Holidays for the Year 2010

 in the State of Haryana

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 Haryana for the Year 2010.

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

UNQUOTE

Indian Bank Holidays 2010 – Tripura

Indian Bank Holidays 2010 – Tripura   

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

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 – Tripura

As declared by the Government of Tripura

QUOTE

 HR & Industrial Relations

No.CIR/HR&IR/H6/2009-10/2326

December 15 2009

All Members of the Association

      (Designated Officers)

Dear Sirs,

Public Holidays for the Year 2010

 in the State of Tripura

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 Tripura for the Year 2010.

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

UNQUOTE

Indian Bank Holidays 2010 – Gujarat

Indian Bank Holidays 2010 – Gujarat 

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

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 – Gujarat

As declared by the Government of Gujarat

QUOTE

 

HR & Industrial Relations

No.CIR/HR&IR/H6/2009-10/2174

December 1, 2009

All Members of the Association

      (Designated Officers)

Dear Sirs,

Public Holidays for the Year 2010

in the State of Gujarat

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 Gujarat for the Year 2010.

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