Scheduled Downtime On Account of Discontinuation of Usage of Pool Accounts for Mutual Funds Transactions!
29 June 2022
As per the circular dated 4th October 2021, The Securities Exchange Board of India had announced that the usage of the pool account for Mutual Fund transactions will be discontinued with effect from 1st July 2022. To comply with this regulation, there will be scheduled downtime in the system on 30th June 2022, from 02:30 PM onwards till 12:00 PM on 1st July 2022.
As a result, clients are to note the following points:
- Mutual Fund Buy/Sell transactions will not be allowed post 2:30 PM on 30th June till 12:00 PM on 1st July.
- All the Buy transactions wherein the payments are not made by the clients will be rejected after 2:30 PM on 30th June till 12:00 PM on 1st July.
- Clients awaiting the redemption credit will receive the amount directly into their registered bank account from 1st July onwards.
For any queries, kindly contact us.