India simplifies rules for dormant trading accounts, changing settlement from daily to monthly cycles.

Securities and Exchange Board of India (Sebi) has simplified rules for settling dormant trading accounts. Previously, funds in inactive accounts had to be settled within three working days. Now, settlements will occur during the monthly cycles set by stock exchanges. This change aims to improve efficiency, addressing concerns raised by the Brokers’ Industry Standards Forum about daily settlement inefficiencies. If an inactive account becomes active before the settlement date, it will follow the client's chosen quarterly or monthly settlement option.

3 months ago
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