Hi @VIJAY_32808932,
We checked your details. Please check your account, the funds should be reflecting now. Could you check and confirm once? Thanks.
This was due to the Settlement Holiday on 1st April and it should be reflecting now. Could you please check now and confirm? Thanks.
Thanks. I’ve received the funds today. It would be helpful to know the reason for the delay so I’m attentive in the future. bestR, Vijay
Hi @VIJAY_32808932,
It was an intermittent issue that should not happen again. In case you face it again, please do let us know and we will take a look at it. Thanks.
Yes.. Now reflecting in P&L. Thanks
1 Like
Hi @Ushnota
I see you have mentioned that mutual fund orders placed after 28 march will be processed on 2nd April. But can you help me understand which nav will be applicable for order placed on 1st April, before cutoff time. I have added the text of NSE notice regarding this.
Can you please clarify what’s the difference between point 2 and point 3. My understanding is, for my equity fund scheme, point 2 should be applicable. So even if unit allotments happens on April 2, one should be given Nav of April 1 given that the order was placed before cutoff. I am just trying to understand the process and understand how NAV works on settlement holidays because I am getting conflicting information.
Even in upstox help, it mentions settlement cycle is delayed but NSE and BSE remain open for trading on April 1.
This zerodha article also outlines it.
______________________________ NSE NOTICE __________
All Participants,
Participants are requested to take note of change in settlement schedule on account of clearing holiday
(Annual Bank Closing) on April 1, 2025.
- Funds received by clearing corporation towards liquid and debt schemes, subscription shall
be settled to respective AMC on next business day i.e. April 2, 2025 and the orders will get
processed with applicable NAV
- Funds received within cut-off time for other than liquid and debt schemes, subscription shall
be settled to respective AMC on April 1, 2025
- Subscription units pay-in and pay-out for orders placed on March 28, 2025 and April 1, 2025
shall be on April 2, 2025
-
Redemption units pay-in and pay-out for orders placed on April 1, 2025 shall be on same day
-
There shall be no redemption funds pay-out on April 1, 2025
Hello @DIVYANSHU_17384980,
Welcome to the Upstox Community!
Could you please share your UCC? Thanks.
Hi @Ushnota ,
Can you help me understand why my UCC is needed? It’s a general information question.
What will be the Nav applicable if someone buy mutual fund before cut off time on 1st April (settlement holiday). Is it the nav published at end of April 1 or April 2?
I don’t see the relevance of providing my UCC for that. Please help me understand the need for it.
If the order was placed before the cut-off time and the Exchange received the funds from your bank within that cut-off window, then the applicable NAV will be of 1st April. However, if fund transfer happened after the cut-off time on 1st April, the applicable NAV will be of 2nd April.
Also, we needed your UCC just to check if you have placed the order and what was the applicable NAV. Hope this helps, thanks.
Hi @Ushnota ,
I did raise a complaint earlier on this, but an upstox representative told me that even though i did place order well before cut off time, due to settlement holiday, i was given april 2 NAV. They were referring this announcement thread. I just wanted to get a clarity on this.
Here is my UCC : 3GB4K8
As I can see from your UCC, yes, you have got the NAV of 2nd April. Let me know if there’s anything else I can help you with, thanks.