SEBI reduces timelines for redemption amount, dividend payout to mutual fund unitholders- check details
It said that the record date would be two working days from the issue of public notice, wherever applicable, for the purpose of payment of dividend.
"The transfer of redemption or repurchase proceeds to the unitholders shall be made within three working days from the date of redemption or repurchase," Sebi said. (Representative image from Reuters)