This is with reference to the SEBI Circular No. SEBI/HO/IMD/DF2/CIR/P/2020/253 dated December 31, 2020 and the Exchange notice no. 20210223-8 dated February 23, 2021 in respect of implementation of Uniform Applicability of NAV based on the funds realisation with effect from February 1, 2021.

With reference to the above-mentioned SEBI Circular, National Payments Corporation of India (NPCI) has introduced a Special session (MUT) for mutual fund industry. Accordingly, investor bank account shall be debited on T Day and the funds shall be provided by the destination bank of the client to the Service provider on T Day before 1 p.m.

Exchange has enabled MUT Session for all the XSIP registrations on BSE StAR MF Platform to facilitate the Uniform Applicability of NAV. Members are requested to note the changes.

Important Note: Unit allotment will be subject to receipt of funds in the mutual fund account before the applicable cut-off time (currently, 3:00 PM)

BSE will endeavour to ensure credit is posted to MF account on the same day of debit to investor's account. In certain circumstances, due to delay at Bank's / Payment Aggregator's end, the credit to MF account and the allotment could get delayed to T+1. The transfer of funds to the collection account of the AMC, including time involved, is purely dependent on the banking industry procedures from time to time on which the BSE has no control.

However, Unit Allotment and NAV applicability will be strictly based on both receipt of transaction and funds into AMC Bank Account within the cut off time of the MF Scheme from time to time and BSE will not entertain any dispute towards the details provided above.

Ketan Jantre                                                 Zeeta Eustace

Sr. General Manager – Mutual Funds          Asst. General Manager – Mutual Funds