The notification comes after the Reserve Bank of India decided to continue with revised trading hours for foreign exchange and money market till Apr 30, following the central government's decision to extend the nationwide lockdown. Earlier this month, the markets regulator extended the cut-off timings for investment in debt schemes till Apr 17. The cut-off timing determines which day's net asset value of the fund will be applicable to the investment.
Accordingly, for subscription of units of mutual funds, the cut-off timings for liquid and overnight funds have been revised to 1230 IST from 1330 IST earlier, while those of other schemes have been revised to 1300 IST from 1500 IST. For redemption in mutual funds, the cut-off timings for all scheme categories have been revised to 1300 IST from 1500 IST. All other regulations with respect to subscriptions and redemptions remain unchanged.