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Options
-
NAV of the business day on which the funds are available for utilisation
Correct answer
- B
Same day NAV
- C
Closing NAV of the next business day
- D
Closing NAV of day immediately preceding the date of application
Why this is the answer
As per the SEBI circular, the NAV applicable for a mutual fund transaction is based on when the funds are available for utilisation. Therefore, in this case, the NAV will be determined by the day the funds are available, not when the cheque is received.
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