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Options
- A
Closing NAV of date of application
- B
Closing NAV of next business day
- C
Closing NAV of day immediately preceding the date of application
-
NAV of the business day on which the funds are available for utilization
Correct answer
Why this is the answer
For most mutual fund schemes, the applicable NAV is based on the date when the funds are available for utilization. In this case, the cheque will take time to clear, and the NAV is based on when the funds are received.
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