Big news for those investing money in stock market, this special system will change
Business Desk: If you buy and sell shares from the stock market, then very soon you can get the benefit of a new and special facility. In fact, at present, after buying and selling of shares, it takes 1-2 business days for the deal to be settled. The settlement of the deal depends on which settlement cycle the share you have bought is in but now this settlement is likely to happen immediately after buying the share. Market regulator Securities and Exchange Board of India (SEBI) Chairperson Madhavi Puri Buch has given special information on this.
SEBI Chief Madhavi Puri Buch said that a blueprint has been prepared to start same-day settlement from March 2024. After this, the option of immediate settlement will also be worked out. Addressing the press conference after the SEBI board meeting in Mumbai, Maharashtra, Madhavi Puri Buch said that the market infrastructure and brokers have emphasized on overcoming the technical challenges for instant settlement. In the initial phase itself, we want to bring the facility of instant settlement after T+0 rather than delaying the deals by one hour.
Madhavi Puri Buch has also expressed satisfaction with the work going on on this scheme so far. He said, “Till now work on it is going on well and we have discussed it a lot. Its blueprint is almost ready. This is a parallel system, which will be completely optional.”