The government of Maharashtra, vide its notification dated September 13, 2024, has declared September 18, 2024, as a public holiday on account of Eid-e-Milad under section 25 of the Negotiable Instruments Act,1881, instead of September 16, 2024, declared earlier.
Consequently, the Reserve Bank of India (RBI), vide its press release: 2024-2025/1114 dated September 14, 2024, has announced that the public holiday on September 16, 2024, notified previously stands cancelled, Accordingly, there will be no transactions and settlements in Government securities, foreign exchange, money markets and rupee interest rate derivatives on September 18, 2024.
In view of same and as per the communication by Registrar and Transfer Agents (RTAs), September 16, 2024, shall be considered as Business Day for all category of Mutual Fund schemes on BSE StAR MF Platform and as per set processes valid transactions shall get reported to AMC/RTA on September 16, 2024.
Further, this is with reference to Notice No. 20240913-21 dated September 13, 2024, regarding clarification for transactions acceptance on September 16, 2024 (Eid-e-Milad) at BSE StAR MF Platform.
Members are hereby requested to note that, there shall be no redemption funds pay-out on September 16, 2024. Redemption funds pay-out shall be as announced by AMCs for their respective schemes.
Further, settlement of units for subscription and funds settlement for the redemption orders will be subject to settlements done by RTAs. In case of units/funds not provided by RTA the same shall be settled on subsequent settlement date.
Members can reach us through our Mutual Fund Helpdesk numbers on 022-45720450 and 022-45720650 on business days between 8:00am to 7:00pm. You can also raise your queries on our CRS portal: - https://bsecrs.bseindia.com
Annexure I: Circular from Government of Maharashtra
Annexure II: RBI press release
Ketan Jantre Mahesh Tare
Head - Trading Operations Manager – Mutual Funds
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