Maharashtra govt declares Jan 15 as public holiday for civic polls. Will BSE, NSE be closed? What we know so far

Maharashtra govt declares Jan 15 as public holiday for civic polls. Will BSE, NSE be closed? What we know so far

• Maharashtra declares Jan 15, 2026 a public holiday for local body polls
• Holiday applies to 29 municipal corporations including Mumbai City and Suburban
• No confirmation yet on bank or stock market closures for Jan 15, 2026

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The Maharashtra government has on January 7 declared January 15, 2026, as a public holiday under the Negotiable Instruments Act to facilitate local body polls.

This holiday applies to 29 municipal corporations, including Mumbai City and Mumbai Suburban districts under the Brihanmumbai Municipal Corporation.

The order has been issued under Section 25 of the Negotiable Instruments Act, 1881, with powers delegated to the State government through a 1968 Ministry of Home Affairs notification.

The BMC, which governs the country's financial capital, commands a massive annual budget of over Rs 74,000 crore and is considered politically significant.

Elections to the BMC and 28 other civic bodies in the state will be held on January 15, and the results will be declared the next day.

However, uncertainty remains around banking and stock market operations.

As of now, the Reserve Bank of India has not issued any communication regarding bank closures for January 15, 2026.

Typically, RBI-administered markets, including government bonds, call, triparty repo, and foreign exchange markets, are shut on holidays under the Negotiable Instruments Act.

Meanwhile, stock exchanges BSE and NSE have also not announced any market closure on January 15, which also happens to be Sensex weekly F&O expiry day. No official circular has been issued in this regard by the exchanges as yet.

In the holiday calendar, January 15, 2026 is not mentioned as a stock market holiday. Similarly, on MCX, January 15 is not a trading holiday.

A total of 1,03,44,315 persons are eligible to vote in the BMC election, including 55,16,707 male voters, 48,26,509 female voters, and 1,099 other voters.

In the 2017 civic elections, the undivided Shiv Sena had won 84 seats.

Separately, February 1 is expected to be Budget Day, and the BSE and NSE are expected to remain open on that day, as per media reports.