The Reserve Bank of India (RBI) has announced that the money market will commence trading at 2:30 PM and conclude at 5:00 PM on January 22, 2024. This decision is in response to the half-day closing on January 22, 2024, as declared by the Government of India due to the consecration ceremony of the Ram Temple in Ayodhya.
Furthermore, the settlement of the auction of Government of India dated securities conducted on January 19, 2024, will take place on January 22, 2024, after the commencement of market trading hours at 2:30 PM. The RBI has also stated that the market trading hours will be restored to normal from January 23, 2024.
The upcoming 'pran prathishtha' ceremony has led several states, including Uttar Pradesh, Madhya Pradesh, Goa, Chhattisgarh, and Haryana, to declare January 22 as a public holiday. The ceremony is expected to be a grand event attended by prominent figures from across the country, with elaborate arrangements being made to honor the occasion.
In light of this, various states have announced additional measures such as school closures, holiday for government employees, and the prohibition of liquor sales to mark the significance of the ceremony.
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