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Options
- A
The closing NAV of the day preceding the date of application
- B
The closing NAV of the next working day
- C
The closing NAV of the application day
-
The NAV of the business day on which the funds are available for utilisation
Correct answer
Why this is the answer
According to a SEBI circular, the applicable NAV is the one on the business day when the funds are available for utilization, regardless of the time of cheque receipt.
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