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Options
- A
Same day NAV if received before cut-off time
- B
Closing NAV of day immediately preceding the date of application
- C
Closing NAV of the next business day
-
NAV of the business day on which the funds are available for utilization
Correct answer
Why this is the answer
As per SEBI's updated guidelines, for mutual funds (including gilt funds), the NAV applicable is based on when the funds are available for utilization, rather than when the application is received, regardless of the cut-off time. This applies to both debt and equity funds (excluding liquid and overnight funds).
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