Description

NSE Clearing Limited publishes the Mutual Fund Service System (MFSS) settlement calendar for April 2026, covering subscription, liquid subscription, and redemption settlement schedules.

Summary

NSE Clearing Limited (NCL) has issued the MFSS (Mutual Fund Service System) settlement calendar for April 2026. The circular provides detailed settlement schedules for three types of transactions: MFSS Subscription (Type ‘S’), MFSS Liquid Subscription (Type ‘K’), and MFSS Redemption (Type ‘U’), along with scheme category codes and fund settlement days.

Key Points

  • Settlement schedules for April 2026 cover subscription (T+1), liquid subscription, and redemption order types
  • No settlement on 01 April 2026 due to Annual Bank Closing
  • Subscription settlement runs from 02 April to 30 April 2026 (settlement numbers 2026060 to 2026079)
  • Funds settlement for subscription orders depends on the fund’s settlement day for the scheme category (T Day where T is the transaction date)
  • Participants are advised to check the category of scheme in the scheme master
  • The last subscription settlement (2026079) on 30 April 2026 has payout of units on 04 May 2026

Regulatory Changes

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

Compliance Requirements

  • All MFSS participants must adhere to the prescribed settlement schedule for April 2026
  • Participants must verify scheme categories in the scheme master to determine applicable fund settlement days
  • Pay-in and pay-out obligations must be met on the dates specified in Annexures A (Subscription), B (Liquid Subscription), and C (Redemption)

Important Dates

  • 01 April 2026: No settlement (Annual Bank Closing)
  • 02 April 2026: First subscription settlement (2026060); pay-in of funds and pay-out of units
  • 06 April 2026: Settlement 2026061
  • 14 April 2026: No settlement (implied holiday — settlement skips from 13 Apr to 15 Apr)
  • 30 April 2026: Last subscription settlement (2026079); unit payout on 04 May 2026

Impact Assessment

This circular affects all MFSS participants including mutual fund distributors, clearing members, and fund houses using NSE’s MFSS platform. The calendar is essential for operational planning of fund flows in April 2026. The Annual Bank Closing on 01 April 2026 results in no settlement that day, which participants must account for in their transaction planning. The T+1 subscription settlement cycle applies throughout the month.

Impact Justification

Routine operational circular providing settlement schedules for mutual fund transactions in April 2026; important for participants to plan fund flows but no regulatory changes or market-wide impact.