MFIs/MFDs/RIAs/RFDs are hereby informed that May 23, 2024, will be a non-business day for Debt and Liquid Funds on account of Buddha Purnima. The subscription orders in all the Debt, Liquid Mutual Fund schemes and L1 and L0 category of schemes shall be accepted on May 23, 2024, 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 May 23, 2024. Also, in the Order Status Report, the order date shall be available as May 24, 2024.
NAV applicability for unit allotment / redemption pay-out for said category of scheme transactions are provided in attached Annexure1.
The Redemption’s/Switch’s/STP’s orders in all categories of scheme shall be accepted and reported to the respective Registrars on May 23, 2024.
In view of the same, we request the MFIs/MFDs/RIAs/RFDs to note the following:
1. 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 May 23, 2024, till 2:32 PM.
2. 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
|
|
2
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2:15 PM
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2:17 PM
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2:17 PM
|
|
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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3. 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 May 24, 2024.
4. The funds received for Liquid T1 type of transactions on May 23, 2024, will be given to the AMCs in the 5th process on May 24, 2024, at 1:45 pm.
5. 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 May 23, 2024, before 4:30 PM, failing which the underlying orders are bound to be rejected.
Ketan Jantre Zeeta Eustace
Chief General Manager – Mutual Funds Additional General Manager – Mutual Funds |