The country’s banks and capital market will remain closed on Monday as new financial year 2019-20 begins on the day.
Banks and financial institutions will not provide services for their clients due to the bank holiday as they will complete their book closures on the day.
Trading at stock exchanges will also remain suspended as their transactions are linked with banks.
The government counts fiscal year from July 1 to June 30, while banks observe January 1 to December 31 as their financial year. For this, every year banks settle accounts by June 30 and enjoy holiday, known as bank holiday, on July 1.