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As per media reports, Securities and Exchange Board of India (SEBI) approved the proposal on graded exit load for liquid funds. The regulator communicated the same to the Association of Mutual Funds in India (AMFI) in a letter. As per the revised structure, one-day holding in liquid fund would attract an exit load of 0.007%, two-day would draw 0.0065% in exit load, followed by 0.006%, 0.005% and so on till the seventh day.