Description

BSE clarifies NAV applicability and unit allotment dates for mutual fund transactions on March 19, 2026 (Gudi Padwa holiday) on the BSE StAR MF platform, covering Equity, Debt, and Liquid fund categories.

Summary

BSE has issued a clarification on how mutual fund transactions on the BSE StAR MF platform will be processed around March 19, 2026 (Gudi Padwa), a public holiday. The circular specifies adjusted NAV applicability dates, unit allotment dates, and redemption payout dates for Equity, Debt, Liquid (L0), and Liquid (T1) fund categories for transactions placed on March 18 and March 19, 2026.

Key Points

  • March 19, 2026 is Gudi Padwa, a public holiday; BSE StAR MF transaction processing is adjusted accordingly
  • Separate schedules apply for Equity, Debt, Liquid (L0), and Liquid (T1) fund categories
  • For Equity and Debt funds: transactions on March 18 follow standard NAV applicability (same-day NAV if confirmation before 2:32 PM)
  • For Equity funds: March 19 transactions get March 19 NAV with unit allotment on March 20
  • For Debt funds: March 19 transactions get March 20 NAV with unit allotment on March 23 (holiday impact)
  • For Liquid (L0) funds: March 18 transactions executed before 1:00 PM with fund confirmation before 1:05 PM get March 17 NAV; March 19 transactions get March 19 NAV with allotment on March 20
  • For Liquid (T1) funds: March 18 transactions (1:00 PM–2:30 PM) get March 19 NAV with allotment on March 20; March 19 transactions get March 23 NAV with allotment on March 24
  • Redemption payout dates depend on the individual scheme’s payout TAT

Regulatory Changes

No new regulatory changes are introduced. This circular provides operational clarification on existing settlement and NAV applicability rules as they apply to the Gudi Padwa holiday on March 19, 2026.

Compliance Requirements

  • Mutual fund distributors, RTAs, and investors transacting on BSE StAR MF must note the revised NAV applicability and allotment dates
  • Fund houses must ensure confirmation uploads/receipts meet the specified cutoff times (2:32 PM for Equity/Debt; 1:05 PM for Liquid L0; 2:30 PM for Liquid T1)
  • Redemption payouts should be processed per each scheme’s stated payout TAT, accounting for the holiday

Important Dates

  • March 18, 2026: Normal transaction day; adjusted NAV cutoffs apply for Liquid funds
  • March 19, 2026: Gudi Padwa public holiday; transactions accepted with shifted NAV and allotment dates
  • March 20, 2026: Unit allotment date for most Equity and Debt transactions placed on March 18–19
  • March 23, 2026: Unit allotment for Debt fund transactions placed on March 19
  • March 24, 2026: Unit allotment for Liquid (T1) transactions placed on March 19

Impact Assessment

This circular has moderate operational impact on mutual fund investors, distributors, and AMCs using the BSE StAR MF platform. Investors placing transactions on or around March 19 must be aware of the shifted NAV dates — particularly for Debt and Liquid (T1) funds, where the holiday causes a more significant delay in NAV applicability and unit allotment (up to March 23–24). Equity fund investors are less affected, with allotment remaining on March 20. No impact on stock market trading or listed securities.

Impact Justification

Operational guidance for mutual fund transactions around a regional holiday; affects NAV dates and settlement schedules for all MF investors on BSE StAR MF platform but is a routine holiday clarification.