This is with reference to the communication received from SEBI/AMCs/RTAs, in respect of change in cut off timings from April 07, 2020 to April 17, 2020 for Liquid/Overnight Schemes & Other than liquid/Overnight schemes.
Accordingly, the cut off timings for Liquid/Overnight Schemes & Other than liquid/Overnight schemes of Mutual Funds on BSE StAR MF platform shall be revised as below:
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Current Cut off time
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Revised Cut off time
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Transaction Type
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Scheme type (Liquid and overnight Schemes)
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Scheme type (Other than liquid and Overnight Scheme)
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Scheme type (Liquid and overnight Schemes)
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Scheme type (Other than liquid and Overnight Scheme)
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Subscription (Lumpsum, Additional/
SIP)
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Normal
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L0
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Normal
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L1
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Normal
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L0
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Normal
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L1
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3:00 pm
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1:00 pm
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3:00 pm
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2:30 pm
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1:00 pm
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12:00 Noon
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1:00
pm
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12:30 pm
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Redemption/
Switches/STP/SWP/AMCSTP
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3:00 pm
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NA
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3:00 pm
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NA
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1:00 pm
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NA
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1:00 pm
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NA
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Funds Pay-in of Funds for MFIs in case of L0
1. Order received up to 11:30 am – Members to fund their account by 11:35 am
2. Orders received from 11:30 to 12:00 noon – Members to fund their account by 12:05 pm
Funds Pay-in of Funds for MFIs in case of L1
1. Order received up to 12:00 noon – Members to fund their account by 12:05 pm
2. Orders received from 12:00 noon to 12:30 pm – Members to fund their account by 12:35 pm
Funds Payin of Funds for MFI’s in case of Normal Orders
1. T +1 day 9:30 am (Existing timings)
Cut off time for Receipt of Funds by Indian Clearing Corporation in their account for orders routed by MFDs/RIAs to get the historic day Nav in case of Liquid transactions and Same day’s Nav in case of L1 transactions is as given below:
1. L0 transactions: 11:30 am
2. L1 transactions: 12:00 Noon
MFIs/RIAs/MFDs are requested to note that in view of the preponement in accepting the Redemption and Switch Orders to 1:00 pm, the Cut of time in Depositories to give the Delivery Instruction Slip for Investors against their redemption and switch orders has now been preponed to 2:30 pm instead of the existing 4:30 pm.
The cut off timing for non demat redemption and switch authentication is 1:00 pm.
The above mentioned revised timings shall be applicable with effect from April 07, 2020.
Ketan Jantre Zeeta Eustace
Sr. General Manager – Mutual Funds Asst. General Manager – Mutual Funds |