New Delhi, May 17 -- SEBI and AMFI have revised the cut-off timing for redemption of units in Overnight Mutual Fund Schemes, effective June 1, 2025. The current cut-off time of 3:00 PM for redemptions, STP, SWP, and switch-outs will be extended to 7:00 PM for same-day NAV applicability. Redemption orders received after 7:00 PM will be processed at the next business day's NAV. Importantly, the cut-off timings for purchase-related transactions (Buy, SIP, Switch-In, STP-In) in Overnight Funds remain unchanged. This change aims to provide greater flexibility for investors in managing redemptions.

SIP contributions surged to a record Rs.26,632 crore in April, driven by a steady increase in the number of contributing accounts, now at 8.38 cror...