TNN | Apr 7, 2020, 04:00 IST Mumbai: After the RBI cut trading and operational hours for various segments in the market effective Tuesday, Sebi has allowed fund houses to advance the daily cut-off time for investors to invest and redeem in various types of funds. Sebi’s decision is also effective the same day. Under the changed timings communicated to the fund houses, to invest and withdraw money in all types of funds except overnight and liquid funds, investors should put in their request to their fund houses by 1pm. However, to invest in overnight and liquid funds, the cut-off time is 12.30pm. This will be valid from April 7 till April 17, the Sebi mail said. Earlier, the cut-off time for all funds for investments and redemptions was 2pm. On April 3, the RBI said that effective April 7, the money and debt market segments like call, term money, repo, commercial paper, certificates of deposit, gilt trading, forex and interest rate derivatives will operate from 10am to 2pm, halved from the 9am to 5pm timing earlier. Sebi’s Monday directive will help mutual funds to align their investment and accounting practices with the new trading and operational timings in these segments of the market, industry players said.
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