RBI announces no transactions in G-Secs, Forex and Money Markets today as Mahara

Started by OZER, Feb 07, 2022, 06:06 PM

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The decision was taken by RBI in view of Maharashtra declaring public holiday on February 7 to mourn death of Bharat Ratna legendary singer Lata Mangeshkar

The Reserve Bank of India (RBI) on Sunday announced that there will be no transactions and settlements in government securities (primary and secondary), foreign exchange, money markets and Rupee Interest Rate Derivatives on February 7, 2022.

"Settlement of all outstanding transactions will accordingly get postponed to the next working day i.e., February 8, 2022," the release said. Transactions under Liquidity Adjustment Facility (LAF) Fixed rate Reverse Repo and MSF operations, for which the second leg settlement date was February 7, 2022 will now mature on the next working day i.e., February 8, 2022. Further, the daily LAF Fixed rate Reverse Repo and MSF windows will be available as usual on February 7, 2022, the release stated.

The decision was taken in view of Maharashtra declaring public holiday on February 7 to mourn death of Bharat Ratna legendary singer Lata Mangeshkar.

The Reserve Bank of India's decision on key interest rates, scheduled for Wednesday, is now expected on Thursday. With February 7, 2022 being declared a public holiday by the Government of Maharashtra under Section 25 of the Negotiable Instruments Act, 1881 as a mark of respect to Bharat Ratna Ku. Lata Mangeshkar, the MPC meeting has been rescheduled to February 8-10, 2022," the RBI said in a late evening statement.

Lata Mangeshkar, whose voice struck an instant chord of recognition with generations of South Asians and is considered one of India's greats, died in a Mumbai hospital on Sunday due to multiple organ failure. She was 92.
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