Description

BSE enables SMART Switch feature for SBI Quality Fund NFO from January 28 to February 09, 2026, allowing investors to switch from SBI Overnight Fund.

Summary

BSE has announced the activation of the SMART Switch feature for SBI Quality Fund NFO on the BSE StAR MF platform, effective from January 28, 2026 to February 09, 2026. This feature allows investors to switch units from SBI Overnight Fund (Regular Growth and Direct Growth options) into the new SBI Quality Fund NFO. The facility is available through manual entry, web interface, APIs, and bulk upload options, and is restricted to lumpsum subscriptions in Non-Demat mode only.

Key Points

  • SMART Switch feature enabled from January 28, 2026 to February 09, 2026
  • Only available for switching from SBI Overnight Fund (Regular Growth and Direct Growth plans)
  • Switch-in transactions will be reported to RTA on January 09, 2026
  • Transactions accepted only up to 2:30 PM on January 09, 2026
  • Available through manual entry, web interface, APIs, and bulk upload
  • Lumpsum subscriptions only; Non-Demat mode required
  • Plan matching applies: Regular to Regular, Direct to Direct
  • Purchase transactions processed and reported to RTA on transaction day itself
  • Switch-out processed on FIFO (First In First Out) logic
  • Members can identify Smart Switch orders in Remarks column of reports

Regulatory Changes

No regulatory changes. This is an operational feature activation for a specific NFO period.

Compliance Requirements

  • Members must use proper scheme credentials for API/bulk upload transactions
  • Members should advise clients about the SMART Switch feature availability and conditions
  • Ensure transactions are submitted before the 2:30 PM cutoff on January 09, 2026
  • Verify correct plan selection (Regular or Direct) matching investor’s existing holdings

Important Dates

  • January 28, 2026: SMART Switch feature activation date
  • January 09, 2026: Last date for transactions (cutoff 2:30 PM)
  • January 09, 2026: Switch transactions reported to RTA
  • February 09, 2026: Feature availability end date

Impact Assessment

This operational feature has minimal market impact as it pertains only to investors interested in participating in the SBI Quality Fund NFO through the switch mechanism from SBI Overnight Fund. The feature provides convenience for existing SBI Overnight Fund investors to participate in the NFO. The FIFO-based switch-out mechanism ensures orderly processing, though investors should note that switches will occur irrespective of valuation (gains/losses) on the switch-out date. For fresh purchases under the NFO Smart Switch plan, all units will be switched out, while existing unit holders will see FIFO allocation starting with their existing holdings.

Impact Justification

Operational notice for a specific mutual fund NFO feature on BSE platform with limited duration and scope, affecting only investors interested in this particular scheme switch facility.