BSE introduces overnight investment product

The Bombay Stock Exchange has introduced overnight (liquid fund) product on the exchange's mutual fund platform, BSE StAR MF. It allows even the smallest investor or a corporate or a trust to invest even for one night in liquid funds anywhere in India.
 
According to a release, it will be an alternative investment avenue for idle monies by investing in MF Liquid Schemes for better returns and relatively lower risk. Members should take consent from clients and open a liquid fund account and transact through BSE StAR MF platform, and instead of keeping idle monies .This will result in returns to investors as well as additional service for member brokers.
 

Further to the launch of non-demat transactions on BSE Mutual Fund Platform, the Exchange is now introducing an order entry functionality which shall allow mutual fund intermediaries (MFI) or mutual fund distributors (MFD) to place purchase and redemption orders simultaneously in liquid schemes. This facility would be available only for non-demat mode. The bulk order upload facility is made available to MFIs/MFDs with effect from Monday May 18, 2015 for Overnight (Liquid Fund) product.