The BSE revised cut-off timings for subscription and redemption of liquid, overnight and other schemes on its mutual fund distribution platform, StAR MF, from Tuesday till April 17.

A BSE circular said in case of subscription of liquid and overnight schemes, the new timing for L0 transactions on the StAR MF platform will be 12 noon and 1 pm for normal transactions (for both subscription and redemption).

With respect to redemption and subscription for other mutual fund schemes, timing has been revised to 1 pm for normal transactions. Earlier, the timing was 3 pm.

The purchase transactions are classified under three different categories normal, L0 and L1.

L0 transactions are placed to purchase units of liquid MF schemes by selecting L0 as a suffix to the scheme type.L1 transactions are placed to purchase units of non-liquid MF schemes and have a value of Rs 2 lakh and above.

Normal transactions are placed to purchase units of non-liquid MF schemes and have a value of less than Rs 2 lakh. Any Liquid transaction, which is not placed by suffixing L0 in the scheme type is also called normal transaction.

With respect to normal orders, the exchange said cut-off time for receipt of funds by Indian Clearing Corporation in their account for orders routed by distributors to get the historic day net asset value (NAV) in case of liquid transactions and same day's NAV in case of L0 transactions is 11.30 am andL1 transactions 12 noon.

In view of the advancement in accepting the redemptions and switch orders to 1.00 pm, the cut-off time in depositories to give the Delivery Instruction Slip (DIS) for investors against their redemption and switch orders has now been advanced to 2:30 pm instead of the existing 4:30 pm.

The cut-off timing for non-demat redemption and switch authentication is 1.00 pm.