Mumbai: Investors trading on the stock market may face a delay in getting shares into their demat accounts. This is because September 5 (Friday) and September 8 (Monday) have both become settlement holidays due to a change in the public holiday for Eid-e-Milad in Maharashtra.
What Changed?
Earlier, the RBI had declared September 5 as a public holiday. However, the Maharashtra government has now shifted the holiday to September 8 for Mumbai and nearby areas. As a result, both days are now considered non-working days for settlement purposes.
Impact on Investors
Even though the stock exchanges (NSE and BSE) will remain open on September 8, the depositories (NSDL and CDSL), which handle the actual transfer of shares, will be closed.
This means that Shares bought between September 4 (Thursday) and September 8 (Monday) will only show up in investors' demat accounts by end of day on September 9 (Tuesday).
No fund payouts will be processed during the settlement holidays.
Auction markets and the currency derivatives market will also remain closed on both days.
RBI’s Update
The RBI clarified that on September 5, markets like government securities, forex, money markets, and interest rate derivatives will be open, but they will remain closed on September 8, in line with the updated public holiday schedule.
District-Wise Holiday Confusion
In Mumbai city and suburbs, the Eid holiday is now on September 8. But in the rest of Maharashtra, the holiday remains on September 5.
