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Cut-off timings for NAVs of MFs

Special Correspondent

MUMBAI: The Securities and Exchange Board of India (SEBI) on Wednesday prescribed uniform cut-off timings for schemes and plans of mutual funds while fixing Net Asset Values (NAVs).

In the case of liquid fund schemes and plans where the application is received up to 12 noon on a day and funds are available for utilisation on the same day,the closing NAV of the day immediately preceding the day of receipt of application would be applicable. If the application is received after 12 noon the closing NAV of the day immediately preceding the next business day would be applicable.

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