Description

NSE Clearing Limited notifies the settlement schedules for Mutual Fund Service System (MFSS) for March 2026, covering subscription, liquid subscription, and redemption settlements.

Summary

NSE Clearing Limited has issued the settlement calendar for the Mutual Fund Service System (MFSS) for March 2026. The circular provides detailed settlement schedules for three types of transactions: regular subscription (T+1), liquid subscription (T day), and redemption. The calendar accounts for the Gudhi Padwa holiday on March 19, 2026.

Key Points

  • Settlement schedules provided for MFSS Subscription (Settlement Type ‘S’), MFSS Liquid Subscription (Settlement Type ‘K’), and MFSS Redemption (Settlement Type ‘U’)
  • Regular subscription follows T+1 settlement cycle with 19 settlement numbers scheduled (S2026041 through S2026059)
  • Liquid subscription follows T day settlement with same-day payin/payout of funds and units
  • Redemption settlements follow scheme category-specific timelines ranging from T+1 to T+8
  • No settlement scheduled for March 19, 2026 due to Gudhi Padwa holiday
  • Settlement numbers run from March 2, 2026 through April 2, 2026 for subscriptions

Regulatory Changes

No regulatory changes introduced. This is a routine operational calendar notification.

Compliance Requirements

  • Participants must follow the prescribed settlement schedules for each transaction type
  • Participants are required to check the scheme category in the scheme master to determine applicable settlement timelines
  • Funds settlement for subscription orders depends on the fund’s settlement day for the scheme category (T Day where T is transaction date)
  • Redemption funds settlement varies by scheme category (T+1 through T+8 based on scheme guidelines)
  • Category codes for scheme classification along with funds settlement days are provided in Annexure ‘D’

Important Dates

  • Effective Period: March 2026
  • First Settlement: March 2, 2026 (Settlement No. S2026041, K2026041, U2026041)
  • Holiday: March 19, 2026 (Gudhi Padwa - no settlement)
  • Last Settlement in Calendar: March 30, 2026 for March transactions
  • Extended Settlement: April 2, 2026 for March 30 subscription orders (S2026059)

Impact Assessment

This is a routine administrative circular with minimal market impact. It provides operational clarity for MFSS participants regarding settlement timelines for March 2026. The calendar enables participants to plan their liquidity and operational requirements. The holiday closure on March 19, 2026 is incorporated into the schedule, ensuring smooth processing of mutual fund transactions without disruption to market participants.

Impact Justification

Routine settlement calendar notification for MFSS operations with no material market impact or regulatory changes