world is news

fairness mutual funds cut-off time: Cut-off time for fairness mutual funds restored to 3pm

Spread the news

SEBI has determined to revive the cut-off timing for getting and promoting of mutual fund items to three pm, efficient Monday, October 19. Earlier in April, SEBI had briefly modified the cut-off timings for getting and redeeming of mutual fund items in view of the disruptions attributable to the pandemic.

AMFI chief, Nilesh Shah, tweeted, “Cut off timings for both subscription and redemption for all schemes other than those categorised as Debt Schemes and Conservative Hybrid Fund is being restored to the original cut-off timings of 3:00 p.m. effective from Monday October 19, 2020.”

Sebi had diminished cut-off time for availing the identical day’s NAV for mutual fund schemes to 1 pm from three pm in April. For liquid and in a single day funds, the time was diminished to 12.30 pm from 1.30 pm.

For debt schemes and hybrid schemes, the present diminished minimize off timings shall be continued until additional discover by RBI on the truncated market hours, stated a communication by AMFI. RBI in April had shortened debt and forex market hours, permitting trades solely from 10 am to 2 pm.

Spread the news