Description

NSE Clearing Limited announces revised settlement schedule for mutual fund transactions on the NSEInvest platform due to the Annual Bank Closing holiday on April 1, 2026.

Summary

NSE Clearing Limited has issued a revised settlement schedule for mutual fund transactions on the NSEInvest (MFSS) platform due to a clearing holiday (Annual Bank Closing) on April 1, 2026. Participants must adjust their processing expectations for subscription and redemption orders placed around this date.

Key Points

  • Liquid and debt scheme subscription funds received on April 1 will be settled to AMCs on April 2, 2026 (next business day) with applicable NAV.
  • Non-liquid/non-debt scheme subscriptions received within cut-off time will be settled to AMCs on April 1, 2026 as usual.
  • Subscription units pay-in and pay-out for orders placed on March 30 and April 1, 2026, will both occur on April 2, 2026.
  • Redemption units pay-in and pay-out for orders placed on April 1, 2026, will occur on the same day (April 1).
  • There will be NO redemption funds pay-out on April 1, 2026.
  • No liquid subscription orders or settlements will occur on April 1, 2026.

Regulatory Changes

No permanent regulatory changes. This is a one-time operational adjustment to the standard settlement calendar due to the Annual Bank Closing holiday on April 1, 2026.

Compliance Requirements

  • All MFSS participants must take note of the revised settlement schedule and plan order processing accordingly.
  • Participants should check the scheme category in the scheme master to determine applicable redemption funds settlement timelines (T+1 through T+8).
  • Liquid and debt scheme subscription orders placed on April 1 must be processed with awareness that funds will reach AMCs only on April 2, 2026.

Important Dates

  • March 30, 2026: Subscription settlement S 2026059 — funds pay-in/pay-out on March 30; units pay-in/pay-out on April 2; funds pay-in cut-off 14:30 hrs. Liquid settlement K 2026059 — funds and units on March 30; cut-off 13:00 hrs.
  • April 1, 2026: Clearing holiday (Annual Bank Closing). Subscription settlement S 2026060 — funds pay-in/pay-out on April 1; units pay-in/pay-out on April 2; funds pay-in cut-off 14:30 hrs. Redemption settlement U 2026060 — units transfer on April 1; no funds pay-out on this date.
  • April 2, 2026: Units pay-out for subscription orders placed March 30 and April 1; funds settlement for liquid/debt scheme subscriptions received on April 1.

Impact Assessment

The impact is primarily operational for mutual fund participants and investors using the NSEInvest platform. Investors in liquid and debt schemes placing subscriptions on April 1 will face a one-day delay in fund settlement to AMCs, which may affect NAV applicability. Redemption investors will receive units on April 1 but must wait for funds as per their scheme’s standard T+N payout schedule — no funds will be disbursed on April 1 itself. Participants need to proactively communicate these changes to clients to manage expectations around NAV and liquidity timelines.

Impact Justification

Operational circular affecting mutual fund transaction settlement timelines around a single clearing holiday; relevant to participants and investors placing MF orders on March 30 and April 1, 2026.