MFIs/MFDs/RIAs/RFDs are hereby informed that September 28, 2023 will be a non-business day for Debt and Liquid Funds on account of Eid-e-Milad. The subscription orders in all the Debt, Liquid Mutual Fund schemes and L1 and L0 category of schemes shall be accepted on September 28, 2023 and will be reported to the respective Registrars on the next business day. The orders shall be available in the Provisional Order Report with Order date as September 28, 2023. Also, in the Order Status Report, the order date shall be available as order date as September 29, 2023.
NAV applicability for unit allotment / redemption pay-out for said category of scheme transactions are provided in attached Annexure.
The Redemption’s/Switch’s/STP’s orders in all categories of scheme shall be accepted and reported to the respective Registrars on September 28, 2023.
In view of the same, we request the MFIs/MFDs/RIAs/RFDs to note the following:
We may inform MFIs/MFDs/RIAs/RFDs that the system will not reject the SIP orders pertaining to Equity, Debt and Liquid schemes for which the FC file is not uploaded by payment aggregators on September 28, 2023 till 2:32 PM.
The settlement timings provided below to transfer the funds to the respective AMCs before the deadline time of schemes.
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Process No
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Order placement deadline time
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Order cancellation cut-off time
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Settlement Process commencement time
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1
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1:45 PM
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1:47 PM
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1:47 PM
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2
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2:15 PM
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2:17 PM
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2:17 PM
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3
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2:30 PM
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2:32 PM
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2:32 PM
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MFDs/RFDs may note that the funds received for Liquid (L0) based schemes till 1:00 PM, Debt schemes till 2:30 PM shall be transferred to the AMCs on September 29, 2023.
The funds received for Liquid T1 type of transactions on September 28, 2023, will be given to the AMCs in the final process on September 29, 2023, at 1:45 pm.
Members are requested to inform their clients to deliver the DIS pertaining to the Redemption and Switch orders placed by them for Demat transactions on September 28, 2023 before 4:30 PM, failing which the underlying orders are bound to be rejected.
Ketan Jantre Zeeta Eustace
Chief General Manager – Mutual Funds Dy. General Manager – Mutual Funds
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