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In his theory, money supply is controlled by the central bank and is an exogenous variable with no interest rate elasticity. At this point, monetary demand depends on people's psychological "liquidity preference". Bank holidays in India is announced by RBI (reserve bank of India). Bank holidays are often public holidays once the banks tend not to operate. In India these bank holidays in canada are decided through the negotiable instruments act of the banks. Bank holidays aren't just year wise but in addition scheduled around the bases of months. These acts provide holidays to everyone the seven territories and twenty eight states.