T+1 settlement after RTGS roll-out

Securities and Exchange Board of India has informed the Association of NSE Members of India (ANMI) that T+1 settlement cycle would by introduced only after implementation of RTGS by the Reserve Bank of India.

According to an ANMI press release, the Sebi chairman G N Bajpai has intimated the timing of the proposed launch of T+1 trading cycle at a meeting with the brokers on Thursday following a market perception that the trading cycle might be introduced from July.

The ANMI members' also discussed issues including broker and sub-broker regulation, inspection and investigation of brokers, stamp duty on e-contract master circular and mapin.

In addition to the Sebi chairman, T M Nagrajan, whole time director and Pratip Kar, executive director of Sebi attended the meeting.