HDFC And Axis Bank Closed On January 22 For Ayodhya Ram Temple Event

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New Delhi: Major private sector lenders, HDFC Bank and Axis Bank, are set to remain closed on January 22, 2024, in Uttar Pradesh (UP) on the occasion of the Ram Temple consecration ceremony in Ayodhya. HDFC Bank will observe a full-day closure in UP and Uttarakhand, while Axis Bank will remain closed for the entire day in Uttar Pradesh.

Finance Ministry Order

The finance ministry issued an order, stating that public sector banks, insurance companies, financial institutions, and regional rural banks will also remain closed for a half-day on January 22 in light of the Ram temple consecration ceremony. ()

This decision aligns with an earlier directive from the Department of Personnel and Training, which announced a half-day closure for central government offices, institutions, and industrial establishments across the country on the same day. ()

RBI's Trading Hours

The Reserve Bank of India (RBI) has released information about trading hours on that day. All markets regulated by the RBI, including the money market, repo market, G-sec market, and forex market, will operate between 2:30 pm and 5:00 pm on January 22.