Description

Settlement calendar for Mutual Fund Service System (MFSS) including normal subscription (T+1), liquid subscription (T day), and redemption settlements for November 2025.

Summary

NSE has published the Mutual Fund Service System (MFSS) settlement calendar for November 2025. The calendar outlines settlement schedules for normal subscription orders (T+1 settlement), liquid fund subscriptions (T day settlement), and redemption orders for the month.

Key Points

  • Normal subscription settlements: 19 settlement cycles (2025207 to 2025225) covering November 3-28, 2025
  • Liquid subscription settlements: Same 19 cycles with T day unit settlement (same-day payout)
  • Settlement numbers range from 2025207 to 2025225
  • Normal subscriptions follow T+1 cycle for units payout
  • Liquid subscriptions have same-day funds and units settlement
  • Calendar accounts for weekends with no settlements on November 1, 2, 5, 8, 9, 15, 16, 22, 23, 29, and 30

Regulatory Changes

No regulatory changes announced. This is a routine operational calendar.

Compliance Requirements

Mutual fund intermediaries and participants should:

  • Follow the published settlement schedule for November 2025
  • Process subscription orders according to specified payin/payout dates
  • Ensure timely settlement of funds and units as per calendar

Important Dates

Normal Subscription (T+1):

  • First settlement: November 3, 2025 (Settlement No. 2025207)
  • Last settlement: November 28, 2025 (Settlement No. 2025225)
  • Units payout occurs T+1 day after subscription order date
  • Funds payin/payout occurs on T day

Liquid Subscription (T day):

  • First settlement: November 3, 2025 (Settlement No. 2025207)
  • Last settlement: November 28, 2025 (Settlement No. 2025225)
  • Both funds and units settle on same day (T day)

Impact Assessment

This is a routine operational calendar with minimal market impact. It provides clarity to mutual fund distributors, RTAs, and investors on settlement timelines for November 2025. The calendar maintains consistency with T+1 settlement norms for normal subscriptions and T day settlement for liquid funds, ensuring predictable processing of mutual fund transactions.

Impact Justification

Routine settlement calendar for mutual fund operations with no regulatory changes or compliance requirements