Description

BSE extends cut-off timing for delivery instructions on overnight mutual fund scheme redemptions from 7:15 PM to 7:30 PM, effective immediately.

Summary

BSE has revised the cut-off timing for providing delivery instructions for redemption/switch orders of overnight mutual fund schemes. The deadline has been extended from 7:15 PM to 7:30 PM, providing an additional 15 minutes for market participants to submit delivery instructions.

Key Points

  • Cut-off timing for delivery instructions extended from 7:15 PM to 7:30 PM
  • Change applies specifically to redemption/switch orders of overnight schemes
  • Revision is effective immediately from August 25, 2025
  • References previous Exchange Notice No. 20250522-16 dated May 22, 2025
  • Based on SEBI circular SEBI/HO/IMD/PoD2/P/CIR/2025/56 dated April 22, 2025

Regulatory Changes

The change implements SEBI’s directive regarding cut-off timings for overnight mutual fund schemes, extending the operational window for market participants to provide delivery instructions for redemption transactions.

Compliance Requirements

  • Market participants must adjust their systems and processes to accommodate the new 7:30 PM cut-off timing
  • All redemption/switch orders for overnight schemes must comply with the revised timing immediately

Important Dates

  • Effective Date: August 25, 2025 (immediate effect)
  • Previous Cut-off: 7:15 PM
  • New Cut-off: 7:30 PM

Impact Assessment

This change provides operational flexibility for mutual fund participants by extending the delivery instruction window by 15 minutes. The impact is primarily operational, affecting fund houses, distributors, and investors dealing with overnight mutual fund schemes. The extended timing may reduce operational stress and improve processing efficiency for same-day redemption requests.

Impact Justification

Operational change affecting mutual fund trading processes with immediate effect but limited scope to overnight schemes