RTGS Holidays 2015 by Resever Bank Of India

RTGS Holidays 2015 by Resever Bank Of India

S No	Date	Occasion
1	26th January 2015 (Monday)	Republic Day
2	1st April 2015 (Wednesday)	Annual closing of banks
3	18th July 2015 (Saturday)	Id-Ul-Fitre
4	15th August 2015 (Saturday)	Independence Day
5	2nd October 2015 (Friday)	Mahatma Gandhi Jayanti
6	22nd October, 2015 (Thursday)	Dasara / Vijaya Dashami
7	25th December 2015 (Friday)	Christmas Day

Who is Supposed to Declare A Holiday under the Negotiable Instruments Act, 1881?

In terms of Section 25 of the Negotiable Instruments Act, 1881, the expression "public holiday" includes Sunday and any other day declared by the Central Government by notification in the Official Gazette to be a public holiday. However, this power has been delegated by the Central Government to State Governments vide the Government of India, Ministry of Home Affairs' Notification No. 20-25-56-Pub-I dated 8 June, 1957. While delegating the power to declare public holidays within concerned States under Section 25 of the Negotiable Instruments Act, 1881, the Central Government has stipulated that the delegation is subject to the condition that the Central Government may itself exercise the said function, should it deem fit to do so. This implies that when Central Government itself has notified a day as "public holiday" under Section 25 of the Negotiable Instruments Act, 1881, there is no need for banks to wait for the State Government notification.