SEBI Circular dated 20th September'19 on Liquid Funds
1. Liquid funds shall hold at least 20% of its net assets in liquid assets. For this purpose, ‘liquid assets’ shall include Cash, Government Securities, T-bills and Repo on Government Securities. - Effective date 1st April 2020
2. Liquid and Overnight Funds shall not park funds pending deployment in short term deposits of scheduled commercial banks, shall not invest in debt securities having structured obligations and/ or credit enhancements - Immediate effect for fresh Invts
3. Exit load period of 7 days for liquid funds - applicable for investments made 30 days from date of circular and not for investments already done before that date. Awaiting clarity on graded exit load.
4. The cut-off timings for applicability of Net Asset Value (NAV) in respect of purchase of units in liquid and overnight funds shall be 1:30 p.m. instead of 2:00 p.m. - effective 30 days from now.
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