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SEBI Update: The day is not far in the stock market that investors will not have to wait for the transaction of credit of shares in demat accounts on purchase of shares or credit of funds in accounts on sale of shares. The Securities Exchange Board of India, the regulator of the stock market, is working towards implementing Quick Transaction Settlement in the stock market, similar to your instant coffee. SEBI Chairperson Madhabi Puri Buch has given this information. He said that Instant Settlement of Stock Market Transactions in the stock market is not far away.
Madhabi Puri Buch said that SEBI is in talks with different parties to achieve the goal of improving transaction settlement timelines. SEBI Chief said that Rs 6 lakh crore money is routed through ASBA for 4 days, due to which investors are saving Rs 260 crore annually. He said that due to the adoption of systems like ASBA for trading, investors are benefiting a lot. He said that Rs 2300 crore is going back to the investors in the form of interest. He said that due to improvement in this ecosystem, investors will save even more.
SEBI Chairperson said that India is among the first countries in the world to adopt T+1 settlement. He said that T+1 settlement has been implemented for all the shares. This means that if an investor buys shares, the shares are transferred to his demat account the very next day or if an investor sells shares, the money is credited to his bank account the very next day. SEBI Chief said that due to this the margin of Rs 10,000 crore is being returned back to the system immediately.
SEBI has given permission to file confidential draft document with SEBI for approval of IPO on the demand of new tech companies. He said that companies can do this and when they are confident and after testing the market, they can issue IPOs. SEBI Chief said that on July 29, 2023, Finance Minister Nirmala Sitharaman will launch Rs 33,000 crore debt backstop fund.
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