"L0 is the settlement process of a liquid scheme defined under MFE. AxisDirect  cut off for order placement in L0 schemes is 1 pm. The units in L0 schemes will have the NAV of T-1 day i.e. previous day NAV. Units will get allotted on T day for L0 schemes.
This Settlement type is applicable for Purchase Transactions only. There is no impact on Redemption through MFE."