Description

BSE revises settlement schedule for mutual fund transactions due to shifting of Id-E-Milad clearing holiday from September 5 to September 8, 2025.

Summary

BSE has revised the settlement schedule for mutual fund transactions following RBI’s decision to shift the Id-E-Milad clearing holiday from September 5, 2025 to September 8, 2025. The changes affect subscription settlements, redemption payouts, and transaction processing timelines for all BSE StAR MF participants.

Key Points

  • Id-E-Milad clearing holiday shifted from September 5 to September 8, 2025 per RBI notification
  • Liquid and debt scheme subscriptions received on Sep 5 will settle on Sep 9, 2025
  • Other scheme subscriptions received within cut-off on Sep 5 will settle on Sep 8, 2025
  • Subscription unit settlements for orders on Sep 5 and Sep 8 will be processed on Sep 9, 2025
  • No redemption fund payouts on September 5 and 8, 2025
  • Redemption units pay-in and pay-out for Sep 8 orders will be same day

Regulatory Changes

RBI notification resulted in the shifting of clearing holiday from September 5 to September 8, 2025, necessitating comprehensive revision of BSE mutual fund settlement schedules to maintain operational continuity.

Compliance Requirements

  • All BSE StAR MF market participants must adhere to revised settlement schedule
  • AMCs must process orders according to modified NAV application dates
  • Participants must ensure proper handling of subscription and redemption settlements during the revised holiday period

Important Dates

  • September 4, 2025: Normal settlement (SETM_NO 2526107)
  • September 5, 2025: Modified settlement with delayed fund settlement to Sep 9
  • September 8, 2025: Revised clearing holiday, subscription settlements processed
  • September 9, 2025: Key settlement date for multiple deferred transactions
  • No redemption payouts: September 5 and 8, 2025

Impact Assessment

High operational impact on mutual fund ecosystem with modified cash flows, delayed settlements for liquid and debt schemes, and revised processing timelines. Market participants need to adjust their operational procedures and inform investors about potential delays in transaction processing during the holiday period.

Impact Justification

Critical settlement schedule changes affecting all mutual fund transactions on BSE StAR MF platform during holiday period