The cut-off timing determines which day's net asset value of the fund will be applicable to the investment. The regulator's move comes after the Reserve Bank of India on Friday revised the trading hours for various markets from Apr 7 to Apr 17, in the wake of coronavirus outbreak and nationwide lockdown.
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, earlier. For redemption in mutual funds, the cut-off timings for all scheme categories have been revised to 1300 IST from 1500 IST earlier. The central bank trimmed the trading hours of foreign exchange and money market amid thin activity that was impacting market liquidity and increasing volatility. On Mar 23, the industry body had directed all mutual fund houses to close their collection centres and branch offices, and told them to accept investments only through digital modes for transactions.