Announcements

The two-day strike by The United Forum of Bank unions (UFBU) on 15th and 16th March 2021 could affect some banking services for various Public Sector Banks. Here is what this means.

What’s happening:

Different payment modes with various  Public Sector Banks (PSBs) may get impacted by this two-day strike. Some transactions may even get rejected or delayed.  This, in turn, could affect the Net Asset Value (NAV) for Mutual Funds.

What is NAV:

Net Asset Value or NAV is the cost of each unit of Mutual Fund. This cost or value changes every day. 

Since 1st February 2021, all Mutual Fund transactions receive the NAV on the day of fund realization - the day of the sale. 

How the current happenings impact NAV

The experts at Upstox are anticipating that there could be a possible delay in fund realization due to the affected services of these Public Sector Banks.

If a Lump Sum or SIP payment for a Mutual Fund is impacted by the above declared two-day strike, and is delayed or rejected, the Mutual Funds allotted to you will depend on the day that your payment was received. This is because NAV is subject to change every day. Thus the NAV allotted will be as per the day the payment was received, which may not necessarily be the day that the payment was initiated. 

We hope this helps you make more informed and smarter investment decisions.

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