Description
NSE Clearing Limited revises the settlement schedule for mutual fund transactions on the NSE Invest Platform due to the Gudhi Padwa clearing holiday on March 19, 2026. Liquid/debt scheme subscriptions and unit pay-outs are deferred to March 20, 2026.
Summary
NSE Clearing Limited (NCL) has issued a revised settlement schedule for mutual fund transactions on the NSE Invest Platform due to a clearing holiday on March 19, 2026 (Gudhi Padwa). Participants must note changes in fund pay-in/pay-out timelines for subscription and redemption orders placed on March 18 and 19, 2026.
Key Points
- Clearing holiday: March 19, 2026 (Gudhi Padwa)
- Liquid and debt scheme subscription funds received by the clearing corporation will be settled to AMCs on the next business day, March 20, 2026, with applicable NAV
- Subscription funds for other (non-liquid, non-debt) schemes received within cut-off time will be settled to AMCs on March 19, 2026
- Subscription unit pay-in and pay-out for orders placed on March 18 and March 19, 2026 will occur on March 20, 2026
- Redemption unit pay-in and pay-out for orders placed on March 19, 2026 will occur on the same day (March 19)
- There will be no redemption funds pay-out on March 19, 2026
Settlement Calendar
Subscription:
| Settlement No. | Order Date | Funds Settlement Date | Units Settlement Date | Funds Pay-in Cut-off |
|---|---|---|---|---|
| S 2026052 | 18-Mar-2026 | 18-Mar-2026 | 20-Mar-2026 | 14:30 hrs |
| S 2026053 | 19-Mar-2026 | 19-Mar-2026 | 20-Mar-2026 | 14:30 hrs |
Liquid Subscription:
| Settlement No. | Order Date | Funds & Units Settlement Date | Funds Pay-in Cut-off |
|---|---|---|---|
| K 2026052 | 18-Mar-2026 | 18-Mar-2026 | 13:00 hrs |
| K 2026053 | No liquid subscription orders or settlement on 19-Mar-2026 |
Redemption:
| Settlement No. | Order Date | Units Transfer Date |
|---|---|---|
| U 2026053 | 19-Mar-2026 | 19-Mar-2026 |
Regulatory Changes
No permanent regulatory changes. This is a one-time schedule adjustment for the Gudhi Padwa clearing holiday on March 19, 2026. Redemption funds settlement continues to follow the scheme category payout guideline (T+1 through T+8 based on scheme category).
Compliance Requirements
- Participants must update their systems and operations to reflect the revised settlement dates
- Participants should check the category of each scheme in the scheme master to determine applicable redemption funds settlement timelines (T+1 to T+8)
- Ensure fund pay-ins meet revised cut-off times: 14:30 hrs for standard subscriptions and 13:00 hrs for liquid subscriptions
Important Dates
- March 18, 2026: Last normal trading day before the holiday; subscription orders (S 2026052, K 2026052) to be placed
- March 19, 2026 (Holiday – Gudhi Padwa): No liquid subscription orders; redemption unit pay-in/pay-out occurs; no redemption funds pay-out
- March 20, 2026: Liquid/debt scheme subscription funds settled to AMCs; unit pay-in/pay-out for March 18 and 19 subscription orders
Impact Assessment
This circular has a moderate operational impact on participants using the NSE Invest Platform for mutual fund transactions. Investors in liquid and debt schemes may experience a one-day delay in fund settlement (to March 20, 2026). No redemption funds pay-out on March 19 affects liquidity for investors seeking redemptions on that date. Participants need to communicate these changes to clients and adjust internal workflows accordingly. The impact is contained to the holiday window and does not affect broader market structure.
Impact Justification
Operational circular affecting MF settlement timelines for a single holiday; relevant to participants using the NSE Invest platform but limited in broader market impact.