SEBI NAV applicability rule of 2021

Sat, 16 May 2026 00:00:00 +0000

The SEBI NAV applicability rule of 2021 is the SEBI reform that unified the applicable NAV framework for Indian mutual fund subscriptions onto a single principle: the applicable Net Asset Value is the NAV of the business day on which the subscription amount is realised in the AMC’s designated bank account, subject to the applicable cut-off time, regardless of the transaction submission time and regardless of the subscription size. The rule was introduced through SEBI Circular SEBI/HO/IMD/IMD-PoD-1/P/CIR/2021/555 dated 17 February 2021 and took effect from 17 March 2021 for all investments, with a phased introduction for new investors from 1 February 2021. The reform consolidated two prior amending circulars (SEBI/HO/IMD/DF2/CIR/P/2020/175 dated 17 September 2020 introducing the realisation requirement for subscriptions of Rs 2 lakh and above, and SEBI/HO/IMD/DF2/CIR/P/2021/024 dated 5 March 2021 standardising the 3.00 p.m. cut-off across equity and debt schemes), and removed the prior Rs 2 lakh threshold below which the order-time-based rule had continued to apply.

SEBI Circular 2021 on WebNotes

SEBI NAV applicability rule of 2021