CURRENT AFFAIRS : BANKING & FINANCE
Equity mutual funds to adopt T+2 redemption payment cycle from Feb 1 2023
- All asset management companies (AMCs) in India will move to T+2 – shorthand for “trade date plus two days”, redemption payment cycle for equity schemes from February 1, 2023, in a move to benefit mutual fund investors.
- The announcement has come on the heels of Indian equity markets moving to a T+1 settlement cycle for all stocks, shortening the settlement cycle by a day and making the availability of funds a day sooner than at present.
