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of SEBI issued a circular modifying cut-off timings for repurchase/redemption of units in overnight mutual fund schemes. For applications received up to 3:00 PM, the closing NAV of the day immediately preceding the next business day will apply. Applications received after 3:00 PM will be processed at the closing NAV of the next business day. For online applications, a 7:00 PM cut-off time is established for overnight fund schemes. The modifications aim to facilitate upstreaming of client funds to clearing corporations and will be effective from June 01, 2025, implemented under SEBI's regulatory powers to protect investor interests and regulate securities markets.
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