An important update has come regarding the change in the rules related to demat account in the Indian stock market. Market regulator SEBI announced on Thursday that the deadline for the guideline related to direct payout of securities in the client’s demat account has been extended to October 14.
Business Desk: An important update has come regarding the change in the rules related to demat account in the Indian stock market. Market regulator SEBI announced on Thursday that the deadline for the guideline related to direct payout of securities in the client’s demat account has been extended from October 14 to November 11.
SEBI introduced this rule through a circular issued on June 5, which aims to improve operational efficiency and reduce risk through clearing corporations (CCs). Under this new system, now the payout of securities will be credited directly to the demat account of investors, whereas currently this process takes place through the pool account of the broker.
Apart from this, the time of payout of securities has also been changed. This time has been increased from 1:30 pm to 3:30 pm, so that securities can be deposited in the customer’s account on the same day, instead of the next day.
SEBI has extended the deadline after consultation with the brokers forum and to ensure that the changes are made without any disruption to the market.
