Domestic financial markets, including stock exchanges and the forex market, will remain closed on Wednesday on account of Dr Baba Saheb Ambedkar Jayanti.
Bhimrao Ramji Ambedkar, popularly known as Babasaheb Ambedkar, was a social reformer and the principal author of the Indian Constitution. Born into a Mahar family on April 14, 1891, in Mhow town of Madhya Pradesh, he later inspired the Dalit movement and campaigned against social discrimination. He also served as the law minister of India (1947–51).
Babasaheb Ambedkar studied at universities in the US, Britain, and Germany. After obtaining a degree in economics and political science from Bombay University, he did his Masters at Columbia University in New York before training as a lawyer in London.
After returning to India during the independence movement, in 1936, Ambedkar wrote his magnum opus ‘Annihilation of Caste’, a fiery critique of the caste system.
Before his death in 1956, Ambedkar converted to Buddhism, together with about 200,000 fellow Dalits, at a ceremony in Nagpur.
Meanwhile, it should be noted that banks will remain closed in most parts of the country till 16 due to various festivals.