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Investors will get the benefits of the same day NAV if they redeem late evening till 7 pm in overnight funds.
SEBI has issued a draft circular in which it has proposed revision of the cut off timing of overnight funds from 3 pm to 7 pm.
Cut off time indicates the deadline at which the redemption can happen at the same day’s NAV. If an investor gives a redemption request post the cut off time, she will get the next day’s NAV.
SEBI believes that the move will help the upstreaming of clients’ funds by Stock Brokers (SBs)/ Clearing Members (CMs) to Clearing Corporations (CCs).
You can give your comment or suggestion on this proposal by February 10, 2025 on this link.