Aditya Birla Mutual Fund seeks to reset maturity of seven FMPs:

Aditya Birla Sun Life (ABSL) Mutual Fund has proposed to reset the maturity date of seven of its fixed maturity plans (FMP) that are coming up for redemption in the coming financial year between April 5 and April 20. FMPs are close end funds with no liquidity and the quality of these investment are not known because there is lowest interest among investors in these types of investments.
These schemes collectively manage ₹2,800 crore as of February.
An investor can reset its maturity date ( probably 1.5 – 2 years) to get indexation benefit of long term capital gain by just staying invested with 5.5%- 6% gain over 1.5 – 2 years as RBI has pushed the rate down. An investor don’t want to reset their maturity date can get their maturity value. And an investor redeem their value on current maturity date and again invest cannot get indexation benefit.
For investors who have a investment period time frame greater than 5 years are recommended to redeem their value on the current maturity date and invest that fund in Index funds/ETFs.
FMPs are close end funds with no liquidity and the quality of these investment are not known because there is lowest interest among investors in these types of investments.