The Securities and Exchange Board of India (SEBI) on October 10, 2024, issued a circular regarding the Change in timing for securities payout in the Activity Schedule for T+1 Rolling Settlement with reference to circular number SEBI/HO/MIRSD/MIRSD-PoD1/P/CIR/2024/75 dated June 5, 2024, has mandated that the pay-out of securities be credited directly to the client account by the Clearing Corporations (CC).
The timing of the payout of securities shall be revised from 1:30 PM to 3:30 PM. Thus, as a result of Direct Payout, the securities shall be credited to the clients’ Demat account on the same settlement day instead of one working day from the receipt of the pay-out from the Clearing Corporation.
The extant Activity Schedule for T+1 Rolling Settlement, under Para 1.4 of the Chapter 3 of the SEBI Master circular on Stock Exchanges and Clearing Corporations dated October 16, 2023, also stands revised w.r.t to the timing of pay-out of securities.
[Circular No. SEBI/HO/MRD/MRD-PoD-2/P/CIR/2024/137]
