Question

As per Regulation 13, provision on investment management, for applications received, with local cheques payable at par at the place where the premium is received, before cut-off Time (3.00pm) on a business day, what will be the applicable NAV?

a.

The opening NAY of same day

b.

The closing NAY of same day

c.

The opening NAY of next day

d.

The closing NAY of next day

Answer: (b).The closing NAY of same day Explanation:For applications received with local cheques payable at par at the place where the premium is received, before the cut-off time (3:00 pm) on a business day, the applicable NAV would be the closing NAV of the same day.

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Q. As per Regulation 13, provision on investment management, for applications received, with local cheques payable at par at the place where the premium is received, before cut-off...

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