When the day on which a promissory note or bill of exchange is at maturity is a public holiday, the instrument shall be deemed to be due on the next preceding, business day.
Explanation.—The expression “public holiday” includes Sundays: 1*** and any other day declared by the 2[Central Government], by notification in the Official Gazette, to be a public holiday. PARTIESTO NOTES, BILLSAND CHEQUES.