Policy on Intraday Borrowing

Pursuant to the above amendment, SEBI issued Circular No. HO/(92)2026-IMD-POD-2/I/16006/2026 dated July 10, 2026 ("Circular"), superseding the borrowing related provisions under Clause 5.9.1 of the SEBI Master Circular for Mutual Funds dated March 20, 2026 ("Master Circular") and SEBI Circular No. HO/(92)2026-IMD-POD-2/I/7885/2026 dated March 25, 2026. The Circular prescribes the framework and conditions governing intraday borrowings by mutual funds and shall come into effect from September 1, 2026.

This Policy sets out the procedures, controls, and governance framework to be followed by HDFC Asset Management Company Limited ("AMC") for availing and managing borrowings, including intraday borrowings, in compliance with the MF Regulations 2026 and the Circular(s) issued thereto. The Policy also incorporates the requirements relating to allocation of borrowing costs under Paragraph 11.10 of the Master Circular and the provisions of Clauses 6 and 7 of the Fourth Schedule to the MF Regulations read with Paragraph 17.7 of the Master Circular.

Click here to view the aforesaid Policy.