Maharashtra Assembly Election 2024: Will Banks And Stock Markets Be Closed On November 20?

The Maharashtra Assembly Elections 2024 will take place on November 20. Voters will cast their ballots for the 288 seats in a single phase, and the vote counting will occur on November 23.

Will Banks Be Closed On Voting Day?

According to the Reserve Bank of India's holiday list, banks in Maharashtra will be closed on November 20 due to the Assembly General Election. However, customers can still access banking services through ATMs, digital banking, and UPI platforms. Online transactions will remain operational, allowing for urgent banking needs, even on a holiday.

Photo Credit: RBI X

November will see 12 holidays in total, including religious festivals, regional events, Sundays, weekends, and other occasions.

In Mumbai, the Brihanmumbai Municipal Corporation (BMC) has declared a holiday on November 20 for all employees working within its limits, ensuring people have the opportunity to vote.

Will Stock Markets Be Closed On Election Day?

Trading at the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) will be closed on November 20 in light of the Assembly Elections. As a result, there will be no trading in the Equity Segment, Equity Derivative Segment, and SLB Segment on that day.

Political Landscape Of Maharashtra

The Maharashtra Legislative Assembly's current term ends in November 26. This year's elections will feature a two-way contest between two major coalitions: the Maha Vikas Aghadi (MVA), consisting of Uddhav Thackeray's Shiv Sena (UBT), NCP (Sharad Pawar), and Congress; and the Mahayuti Alliance, which includes BJP, Shiv Sena (Eknath Shinde), and NCP (Ajit Pawar). In the 2019 elections, BJP secured 105 seats, Shiv Sena won 56 seats, and Congress claimed 44 seats.