Settlement Holiday on April 1: Are forex, bond markets open or closed?

The Indian foreign exchange and bond markets are closed on Tuesday, April 1, the first day of the 2025-26 fiscal year (FY26), on account of the clearing holiday (also called the settlement holiday).

The forex and bond markets will resume trading for the new financial year on Wednesday, April 2.

While the stock markets may continue trading on settlement holidays, the usual T+1 trade settlement cycle is delayed by a day. This is caused either by the National Securities Depository Limited (NSDL) and the Central Securities Depository Limited (CDSL) being closed or banks being shut for the clearing process.

However, the stock exchanges, the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) continue to remain open for trading on April 1.

Banks across the country, except for the ones in Mizoram, Chhattisgarh, Himachal Pradesh and Meghalaya, will remain shut on April 1 for annual account closing.

March 31 was not only the last day of the 2024-25 financial year (FY25), but also a public holiday on the occasion of Eid-ul-Fitr. The Indian bourses were shut, and banks were also scheduled to remain closed. However, the Reserve Bank, in a circular, said that all agency banks facilitating government transactions were to remain open.

Here are all the clearing holidays in the 2025 calendar year: