Description

Groww Mutual Fund modifies STP/SWP facilities including weekly frequency selection, eligibility criteria, processing timelines, and default dates effective October 06, 2025.

Summary

The NSE has notified members about changes to the Systematic Transfer Plan (STP) and Systematic Withdrawal Plan (SWP) features for Groww Mutual Fund schemes (except ETFs) on the NSE MF Invest Platform, effective October 06, 2025. The changes include enhanced flexibility in weekly STP frequency selection, removal of minimum balance requirements, modified processing timelines, and new default dates for SWP transactions.

Key Points

  • Weekly STPs can now be initiated on any weekday (Monday to Friday) as per investor choice
  • Default STP day changed to Friday if no day is selected by investor
  • No minimum balance required in transferee scheme for STP/SWP registration
  • Registration and cancellation timeline standardized to 7 calendar days from receipt of request
  • Default SWP date set to 15th of every month (or next business day if holiday)
  • If STP date falls on holiday, transaction processes on next working day
  • Changes apply to all Groww Mutual Fund schemes except ETFs

Regulatory Changes

This circular implements operational changes pursuant to Notice cum Addendum No. 30/2025-2026 issued by Groww Asset Management Ltd. on September 30, 2025. The modifications update the Scheme Information Document (SID), Key Information Memorandum (KIM), and Statement of Additional Information (SAI) for all applicable Groww Mutual Fund schemes.

Compliance Requirements

  • NSE members are informed of the changes for client servicing purposes
  • No specific compliance actions required from trading members
  • Investors encouraged to register/update email and mobile numbers under Go Green Initiative

Important Dates

  • Circular Issue Date: October 03, 2025
  • Effective Date: October 06, 2025
  • Addendum Issue Date: September 30, 2025 (by Groww Asset Management Ltd.)

Impact Assessment

The changes provide greater flexibility to mutual fund investors using Groww schemes on the NSE MF Invest Platform. The elimination of minimum balance requirements and standardized 7-day processing timeline simplifies STP/SWP operations. Weekly frequency selection enhancement allows investors to align systematic transactions with their cash flow preferences. Overall impact is limited to operational convenience for Groww Mutual Fund investors with no broader market implications.

Impact Justification

Operational changes to mutual fund transaction facilities affecting only Groww Mutual Fund schemes; no market-wide impact or regulatory compliance requirements for trading members beyond notification.