If the due date of a bill of exchange falls on the bank holiday of the issuing bank then what - Accountancy - Bills of Exchange

Question

If the due date of a bill of exchange falls on the bank holiday of
the issuing bank then what will be the due date

Pushpak Popli · Accepted Answer

Dear Student,

If the due date of the bill is on the national holiday, then the
maturity day of the bill shall be the preceding business day
For Example:- If the due date of the bill falls on 26th January
(Republic Day), then its due date will be 25th January

If the due date of the bill is declared as an emergency holiday,
then the due date of the bill shall be after 1 day from the date of
maturity
For example:- if the due date of a bill is 25th July and it is
declared as an emergency holiday, then the due date will be 26th
July

Regards

If the due date of a bill of exchange falls on the bank holiday of the issuing bank then what will be the due date