India Moving Towards T+0 for Market Settlement Before End Of FY24: Sebi Chief

News Snapshot:

India is moving to set up same-day market settlement before the end of fiscal year ending March 2024 and subsequently to instantaneous settlement a year later, the chairperson of the country’s markets regulator said on Friday. Currently, trades in India are settled in “T+1” or one day after the trades are initiated. T+0 would mean settlements in the same day and instant settlement would ensure trades are settled immediately. “We are now moving to optionally T+0,” Securities and Exchange Board of India (SEBI) chairperson Madhabi Puri Buch told an industry event in New Delhi. “It will happen before the end...