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of <h1>Overnight Mutual Fund Schemes Adjust NAV Calculation Timings with New Cut-Off Rules for Repurchase Applications</h1> A regulatory circular modifies cut-off timings for repurchase of units in overnight mutual fund schemes. For applications received up to 3:00 PM, the closing NAV of the preceding business day will apply. Applications after 3:00 PM will use the next business day's closing NAV. Online applications for overnight schemes have an extended 7:00 PM cut-off time. The changes aim to facilitate upstreaming of client funds and will be effective from June 1, 2025, as per regulatory guidelines.
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