According to SEBI timelines, within how many business days of the closure of an NFO must mutual fund schemes allot units or refund money?
A
Within 2 business days.
B
Within 5 business days.
C
Within 10 business days.
D
Within 15 business days.
Correct Option:
B
Explanation
SEBI requires mutual fund schemes to allot units or complete refunds, as applicable, within five business days from the date of closure of the New Fund Offer (NFO), ensuring timely processing for investors.
