The market regulator is aiming to leverage the new multiple debits facility for unified payments interface
The Securities and Exchange Board of India (Sebi) on Tuesday gave details of a proposed framework for shifting to a new payments system for secondary market trades. The move is primarily aimed at safeguarding investors from potential misuse of their funds by brokers.
According to industry players, the new system, along with the shift to the shorter T+1 settlement cycle, would make the domestic securities market one of the most efficient and sophisticated in the world.
In a discussion paper titled ‘Blocking of funds for trading in secondary market’, the market regulator is aiming to leverage the new multiple debits facility for
First Published: Jan 17 2023 | 8:18 PM IST