01 December 2007
NO. LETTER NO 8/166/80-CL-V DT 02-03-81 SAYS HALF YEARLY BANK CLOSING HOLIDAYS ARE NOT CONSIDERED AS PUBLIC HOLIDAYS FOR PURPOSE OF SEC 166 .. THIS CIRCULAR IS NOT RELEVANT NOW AS BANKS OBSERVE 1ST SEPT AND 1 ST APR AS HOLIDAYS NOW AND EVEN THESE TWO ARE NOT PUBLIC HOLIDAYS. R.V.RAO