Get Money Faster on Selling Equity Funds. MF move to T+2 Cycle.
AMFI has spoken that all AMCs or bilateral funds will now move to T 2 redemption payment trundling for probity funds. What this ways is that going forward, under the T 2 redemption cycle, the money from redemption will be credited to the investor’s wall worth on the second day from the day ‘T’ (in market parlance), the day on which the units were sold surpassing the cutoff timings.
This will be implemented from 1st February 2023.
Announcement – Link
This welcome transpiration will lead to quicker settlement and faster liquidity for bilateral fund investors. Till now, it used to take well-nigh three days for this settlement (under T 3 cycle). This changes comes without SEBI spoken the that probity markets will now move to T 1 settlement cycle, which is a global first.
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