Holidays

In Aura, the following types of holidays are maintained:

Branch Holiday

• Branch holidays are when the branch of the bank will be closed for business to the public at physical locations.

• These can be maintained in the Calendar Tab under Admin > Branches > Maintain for each Branch.

Currency Holiday

• Currency and FX market holidays are defined as days when the foreign exchange market for specified currency is closed. Generally, central bank and / or large-value payment systems are closed for interbank settlements for the particular currency on that day.

• These can be maintained in the Calendar Tab under Admin > System Codes > Currency for each Currency.

Impact:

• When a Branch Holiday record is created, Aura's Close-Of-Business process will move the schedule of certain events whose Holiday Treatment is maintained.

• Based on the preference maintained for the Holiday Treatment, the event will be rescheduled to the next business date or previous business date, or will remain as per original schedule.

• Value dates for Payments and FX transactions are validated against the Currency Holidays to ensure that they don't fall on a Currency Holiday.