Description

BSE announces the trading and settlement schedule for mutual fund transactions (subscription and redemption) for the period January 1-31, 2026, covering liquid and non-liquid schemes.

Summary

BSE has released the trading and settlement programme for the Mutual Fund segment covering the period January 1-31, 2026. The circular details settlement numbers, dates, and payout schedules for three categories: non-liquid mutual fund subscriptions (T+1 payout), liquid fund subscriptions (same-day payout), and redemptions (varying TAT based on scheme). The schedule covers 21 settlement cycles (SETM_NO 2526187 to 2526207) excluding holidays on January 3-4, 10-11, 17-18, 24-26, and 31.

Key Points

  • Settlement schedule spans January 1-30, 2026 with 21 trading days
  • Non-liquid MF subscriptions: Funds pay-in on T, units payout on T+1
  • Liquid MF subscriptions: Same-day settlement (T+0) for funds pay-in and units payout
  • Redemptions processed on transaction date with payout based on scheme-specific TAT (T1 to T10)
  • Funds payout to AMCs for non-liquid transactions occurs before 3:00 PM on T day
  • NFO (New Fund Offer) scheme payouts processed on T day based on funds confirmation received by ICCL till 6:00 PM
  • Holidays observed: January 3-4, 10-11, 17-18, 24-26, and 31, 2026

Regulatory Changes

No regulatory changes announced. This is a routine operational schedule publication.

Compliance Requirements

  • Market participants must follow the published settlement schedule for mutual fund transactions
  • AMCs must process funds according to the specified timelines
  • Investors placing redemption orders should verify the scheme-specific TAT in the scheme master available on BSE Star MF Platform
  • ICCL must receive funds confirmation for NFO schemes by 6:00 PM on transaction day for same-day payout

Important Dates

  • Effective Period: January 1-31, 2026
  • First Settlement: January 1, 2026 (SETM_NO 2526187)
  • Last Settlement: January 30, 2026 (SETM_NO 2526207)
  • Non-Trading Days: January 3, 4, 10, 11, 17, 18, 24, 25, 26, and 31, 2026
  • Daily Cutoff for NFO Payout: 6:00 PM on transaction day
  • Non-Liquid Funds Payout: Before 3:00 PM on transaction day

Impact Assessment

Market Impact: Medium - Affects all mutual fund transactions on BSE Star MF platform during January 2026.

Operational Impact: Routine schedule that provides clarity for investors, distributors, and AMCs to plan their mutual fund transactions. The differentiation between liquid (T+0) and non-liquid (T+1) settlement continues as per standard practice.

Investor Impact: Investors need to be aware of the settlement timelines, particularly for liquid funds (same-day settlement) versus non-liquid funds (next-day unit allocation). Redemption proceeds will vary based on individual scheme TAT (ranging from T+1 to T+10), requiring investors to check scheme-specific details on the BSE Star MF Platform.

Processing Impact: The 21 trading days in January provide continuous market access except for weekends and specified holidays, ensuring regular liquidity for mutual fund investors.

Impact Justification

Routine operational schedule announcement for mutual fund trading and settlement. Important for market participants and investors to plan transactions but does not involve regulatory changes or market-wide impact.