Summary
SEBI chairperson announces plans for same-day settlement cycle in India starting March 28, making it the second country after China to do so.
Key Points
1. Madhabi Puri Buch, chairperson of the Securities and Exchange Board of India (SEBI), announced plans to introduce faster settlements on Monday.
2. India is planning to introduce a same-day settlement cycle from March 28 on an optional basis, making it the second country after China to do so while other nations typically settle within two days.
3. This move towards faster settlements reflects India’s commitment to modernizing its financial infrastructure and keeping pace with global trends in the financial industry.