https://v2.webnotes.in/tags/ilfs-impact-mutual-fund/Recent content in IL&FS Impact Mutual Fund on WebNotesHugoen-INSun, 17 May 2026 00:00:00 +0000https://v2.webnotes.in/sebi-liquid-fund-framework-2019/Sun, 17 May 2026 00:00:00 +0000https://v2.webnotes.in/sebi-liquid-fund-framework-2019/<p>The <strong>SEBI Liquid Fund Risk Management Framework</strong>, introduced through SEBI Circular <strong>SEBI/HO/IMD/DF2/CIR/P/2019/101</strong> dated <strong>20 September 2019</strong>, fundamentally restructured the operational and risk-management framework for Indian liquid mutual fund schemes. The framework was issued in response to the <strong>IL&amp;FS Group default crisis of late 2018</strong> and subsequent debt-fund credit events that had revealed structural risks in liquid-fund operations. The 2019 framework introduced multiple substantive changes including the <strong>1:30 p.m. NAV cut-off</strong> (tightened from the prior 2 p.m.), the <strong>seven-day exit-load on early redemptions</strong>, the <strong>minimum 20 per cent in liquid assets</strong> portfolio composition requirement, the <strong>maturity-cap framework</strong>, and the <strong>Instant Access Facility (IAF) caps</strong>.</p>