 "Sebi restores pre-coronavirus cut-off time for mutual fund transactions")
Markets regulator Sebi has restored the cut-off timing for buying and selling of mutual fund units to 3 pm from Monday.
The timings were revised during the lockdown due to the coronavirus pandemic.
"It is decided that the cut-off timings for applicability of NAV (Net Asset Value) for both subscription and redemption for all schemes, may be restored to normal cut-off timings on accordance with various circulars issued by Sebi in this regard," the regulator said in a letter to industry body Amfi on Friday.
The change would be effective from Monday, November 9, it added.
Further, all asset management companies (AMCs) have been asked to issue a public notice highlighting the change in cut-off timings. Also, they need to publish about the timings prominently on their websites.
The regulator, last month reinstated the cut-off timing for transactions in equity mutual fund units to 3 pm. However, the existing truncated cut-off time continued for debt and conservative hybrid funds.
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Earlier in April, Sebi had reduced cut-off time for subscription and redemption of mutual funds, including liquid and overnight schemes due to coronavirus pandemic.
The regulator had reduced cut-off time for availing the same day's net asset value (NAV) for mutual fund schemes to 1 pm from 3 pm. For liquid and overnight funds, the time was advanced to 12.30 pm from 1.30 pm.