Description

BSE anticipates high mutual fund transaction volumes on February 2, 2026 due to SIP day coinciding with Budget day. Members, payment aggregators, and banks must ensure system readiness and operational preparedness.

Summary

BSE has issued an alert regarding anticipated high volumes of mutual fund transactions on Monday, February 2, 2026, due to the convergence of Systematic Investment Plan (SIP) day and Union Budget presentation day. All members, payment aggregators, and banks are required to ensure their technical systems and operational capabilities are fully prepared to handle the increased transaction load on the BSE StAR MF platform without disruptions.

Key Points

  • High mutual fund transaction volume expected on February 2, 2026
  • Members, payment aggregators, and banks must ensure robust technical systems and operational preparedness
  • All operational activities must be handled seamlessly to prevent transaction failures
  • Valid credit MIS must be uploaded on time
  • Timely fund transfers to ICCL account required within cutoff times
  • Transactions entered before cutoff time must be processed successfully without disruption
  • Funds Confirmation MIS must be uploaded within stipulated timelines
  • UTR numbers in MIS must be accurate and match bank statements
  • Amounts in Funds Confirmation MIS must match actual credits in ICCL bank account

Regulatory Changes

No new regulatory changes introduced. This circular reinforces existing procedures and guidelines previously communicated in notices 20230620-66 and 20240702-34 issued by ICCL regarding cutoffs, procedures, and settlement processes for mutual fund orders on BSE StAR MF Platform.

Compliance Requirements

For All Members:

  • Ensure technical infrastructure can handle high transaction volumes
  • Upload valid credit MIS within stipulated timelines
  • Transfer requisite funds to ICCL account well within cutoff times
  • Process all mutual fund transactions entered before cutoff without disruption

For Payment Aggregators:

  • Maintain system readiness for increased transaction processing
  • Ensure operational preparedness for high volume day
  • Comply with fund confirmation and MIS upload requirements

For Banks:

  • Prepare systems to handle increased fund transfer volumes
  • Ensure accurate reflection of UTRs in bank statements
  • Process fund transfers to ICCL account promptly

Funds Confirmation MIS Requirements:

  • Upload within stipulated timelines
  • Provide accurate UTR numbers matching bank statement UTRs
  • Ensure amounts match actual credits received in ICCL bank account

Important Dates

  • February 2, 2026 (Monday): Expected high volume day for mutual fund transactions due to SIP day and Budget day convergence
  • Notice Date: January 28, 2026

Reference Notices:

  • Notice No 20230620-66 (June 20, 2023): ICCL cutoffs/procedures/guidelines
  • Notice No 20240702-34 (July 2, 2024): ICCL settlement process guidelines

Impact Assessment

Operational Impact (High):

  • Mutual fund transaction volumes expected to significantly exceed normal levels
  • Potential system strain on members, payment aggregators, and banks
  • Risk of transaction failures or delays if systems are not adequately prepared
  • Critical importance of operational readiness to maintain market integrity

Market Participant Impact:

  • Members must allocate additional resources for monitoring and processing
  • Payment aggregators need enhanced capacity planning
  • Banks must ensure adequate liquidity and processing capabilities
  • Investors may experience delays if participants are not prepared

Settlement Impact:

  • Timely settlement depends on accurate MIS uploads and fund transfers
  • Mismatches between MIS data and bank statements could cause settlement failures
  • ICCL account must receive funds within cutoff times to enable successful processing

Risk Mitigation:

  • Advance notice allows participants to prepare systems and allocate resources
  • Reference to existing procedures ensures participants follow established protocols
  • Emphasis on accuracy in UTR reporting and amount matching reduces settlement errors

Impact Justification

High volume anticipated on a critical day combining SIP day and Budget day requires immediate operational readiness from all participants to prevent transaction disruptions on the mutual fund platform.