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    <title>Borrowing by Mutual Funds</title>
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    <description>Mutual funds may use intraday borrowings only to bridge timing mismatches for repurchase/redemption and payout obligations, subject to a board approved policy uploaded on the AMC website. Such borrowings cannot exceed the day&#039;s guaranteed receivables from specified government and clearing counterparties (including TREPS, reverse repo, government securities proceeds and interest). AMCs must comply with relevant regulatory schedules and master circular provisions and shall bear any costs or losses arising from intraday borrowing or delayed receivables.</description>
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