31 Mar 2021, 07:00 PM

Non-Business day for mutual funds on account of Annual bank closing on April 1, 2021

April 1, 2021, is a non-business day on account of Annual Bank Closing day.

Following are the changes:

  1. All purchase orders placed after 1.30 PM from 31st March 2021 to 5th April 2021 will be processed as per the relevant cut-off timings on 5th April 2021. Funds for these orders will be debited on 5th April 2021. The units will be settled to the demat account by 6th April 2021.
  2. The settlement amount for redemption orders due on 1st April 2021 will be settled on 5th April 2021.
  3. Redemption orders for Debt and Liquid schemes will be processed on 5th April 2021, and for Equity schemes, they will be processed on 1st April 2021 and the funds will be settled as per the TAT.

For more details, you can check the circular here.