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The Securities and Exchange Board of India (Sebi) extended the implementation timeline for the optional T+0 (T plus 0) settlement cycle for qualified stock brokers (QSBs) in equity cash markets to 1 November.
In a circular released on Tuesday, Sebi said the decision was taken due to the feedback received from QSBs and subsequent discussions with stock exchanges, clearing corporations, depositories, and QSBs.
The extension aims to ensure a smoother implementation process.
The deadline for QSBs to put in place the necessary systems and processes for enabling seamless participation of investors in the optional T+0 settlement cycle was 1 May.
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