Notice No20191010-42Notice Date10 Oct 2019
CategoryTradingSegmentMutual Fund
SubjectSettlement of Overnight (Liquid Fund) Product introduced on BSE StAR MF - Update

In view of the guidelines issued by SEBI vide its Circular No. SEBI/HO/IMD/DF2/CIR/P/2019/101 dated September 20, 2019, with regards to Risk Management framework for liquid and overnight funds and norms governing investment in short term deposits, the cut off timing for the Liquid Schemes on BSE StAR MF Platform shall be revised as below: 

Scheme type

Current Cut off time

Revised Cut off time

Pay -in of funds for MFI’s

Liquid Normal Category (T1)

15:00 hrs

15:00 hrs (No change)

T + 1 day by 9:00 am

Liquid – L0

13:30 hrs

13:00 hrs

1) T day by 12:30 hrs        

2) T day by 13:00 hrs

Distributors may kindly also note that the cut off time for receipt of funds, by Indian Clearing Corporation Ltd in their account for the orders in L0 category to get the historic day’s NAV, as informed vide Notice No 20170105-05 dated January 05, 2017 as 13:00 hrs now stands modified to 12:30 hrs.

The revised timings shall be applicable with effect from October 21, 2019.  Members/Distributors may kindly note that there shall be no change in the existing order routing and settlement process except for the revision in cut off timing for Liquid - L0 Category.

Ketan Jantre                                                                              Zeeta Eustace 

Sr. General Manager – Mutual Funds                                       Assistant General Manager – Mutual Funds