More stocks to have T+0 settlement
Securities and Exchange Board of India (Sebi) has expanded the list of stocks for the same day settlement in the equity cash market to the top 500 scrips by market capitalisation.
In March, the regulator had introduced the beta version of T+0 (same day) settlement cycle on optional basis in addition to the existing T+1 settlement cycle in equity cash market, for a limited set of 25 scrips and with a limited number of brokers. To begin with, it was available only to non-custodian clients.
On Tuesday, Sebi said all stock brokers would be allowed to participate in the optional T+0 settlement cycle. Also, they have been permitted to charge differential brokerage for T+0 and T+1 settlement cycles, within the regulatory limit.
The new rule on expanded scrips would be applicable from January 31,2025.
Based on the feedback received from various stakeholders, Sebi has decided to increase the scope of optional T+0 settlement cycle, it said in a circular.
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