FPIs petition Sebi again asking it to defer T+1 settlement cycle

FPIs urge regulator to defer move to T+1, which kicks in from January 1

Foreign portfolio investors (FPIs) have shot off yet another letter to Securities and Exchange Board of India (Sebi) Chairman Ajay Tyagi in what appears to be a last-ditch attempt to get the regulator to defer its diktat on the T+1 (trade plus one day) settlement cycle.

FPIs have urged Sebi to put off the move so that all stakeholders get sufficient time to identify and test the operational processes required to safely implement the T+1 model, which comes into force from January 1.

Three out of five FPIs investing into the country come from outside Asia and the move to