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<h1>Promissory Note or Bill of Exchange Due on Public Holiday is Payable on Previous Business Day, per Negotiable Instruments Act.</h1> When the maturity date of a promissory note or bill of exchange falls on a public holiday, the instrument is considered due on the preceding business day, according to the Negotiable Instruments Act, 1881. The term 'public holiday' encompasses Sundays and any day declared as such by the Central Government through an official notification.