Due Date = 25.01.2022. Add the 1-month term and 3 days of grace to 23.12.2021, which gives 26.01.2022 — but that is Republic Day (a public holiday), so the due date shifts back to the preceding working day, 25.01.2022.

Method

The bill matures on 25th January 2020, because the calculated due date (26 Jan) is Republic Day and must be moved to the preceding business day.

Step 1 — Add the term to the date of drawing.

Bill drawn on 23 Nov 2019 for 2 months → nominal maturity = 23 Jan 2020.

Step 2 — Add 3 days of grace.

23 Jan 2020 + 3 days = 26 Jan 2020.

Step 3 — Adjust for a public holiday.

26 January is Republic Day, a national/public holiday. When the due date falls on a public holiday, the bill becomes due on the immediately preceding business day. Therefore the due date shifts to 25 Jan 2020.

…

Due date = date of drawing + period of bill + 3 days of grace = 12 June + 2 months + 3 days = 15 August, 2016.

Working: