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Markets regulator Sebi on Monday directed brokers to collect all other margins, except value at risk (VaR) and Extreme Loss Margin (ELM), by the T+1 settlement day. The decision has been taken due to the shift from T+2 to T+1 settlement cycle. Trading members or clearing members are required to mandatorily collect upfront VaR margins and ELM from their clients. Earlier, they had time till 'T+2' working days to collect margins (except VaR margins and ELM) from their clients. "With effect from January 27, 2023, the settlement cycle has been reduced from T+2 to T+1 across all scrips in the cash market. "In this regard, based on representation received from the Brokers' Industry Standards Forum (ISF) and to ensure a more robust risk management framework, it has been decided that keeping in view the change in the settlement cycles, the TMs (trading members)/CMs (clearing members) shall be required to collect margins (except VaR margins and ELM) from their clients by the settlement day,"
To enhance operational efficiency and reduce the risk to clients' securities, markets regulator Sebi on Wednesday decided to make the process of direct payout of such securities to the client's account mandatory. This will become effective from October 14, the Securities and Exchange Board of India (Sebi) said in a circular. Currently, the clearing corporation credits the pay-out of securities in the pool account of the broker, who then credits the same to the respective client's demat accounts. Further, a facility of direct delivery to investors was introduced in February 2001. After extensive deliberations with the stock exchanges, clearing corporations (CCs) and depositories, Sebi has decided that "the securities for pay-out shall be credited directly to the respective client's demat account by the CCs". Moreover, clearing corporations should provide a mechanism for trading member(TM) or clearing members (CM) to identify the unpaid securities and funded stocks under the margin
The average monthly rental for premium housing rose 28 per cent year-on-year in Gurugram during the January-June period of this year on higher demand, limited supply and appreciation in capital values, according to Savills India. In Gurugram, the "average rentals witnessed an increase of 28 per cent YOY (year-on-year) across all markets. GCER (Golf Course Extension Road & SPR (southern peripheral road) and Golf Course Road saw the highest rise in rentals with 33 per cent and 31 per cent YOY growth, respectively," real estate consultant Savills said in its report. As per the report, the average quoted rentals are for 3BHK and 4BHK apartments on Golf Course Road and 3-BHK apartments in other micro markets. As per the Savills data of the first half of 2023, Golf Course Road commands a monthly average rental of Rs 1,95,941, while the average rent at Golf Course Extension Road and Southern Peripheral Road is Rs 1,01,000 a month. The data showed that average rent in New Gurugram is Rs ..
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