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Markets regulator Sebi on Wednesday extended the deadline to June 30 next year for demat and mutual fund account holders to provide a nomination. Earlier, the deadline to nominate a beneficiary or opt out of it by submitting a declaration form was December 31, 2023.
In phase 1, the regulator has proposed an optional T+0 settlement cycle (for trades till 1:30 pm), with settlement of funds and securities to be completed on the same day by 4:30 pm.
In September, the capital market regulator had issued a circular saying that market entities will need to apply for SCORES authentication and for Application Programming Interface (API) integration. SEBI has also pushed the deadline for applying for SCORES authentication to April 1, 2024, according to a circular issued on Friday.
Under the new framework, Sebi has introduced incentives for large corporates in case of surplus in the requisite borrowings and moderated disincentives if they fail to raise at least 25 per cent of their incremental borrowings through debt securities.
The Securities and Exchange Board of India (Sebi) conducted an investigation into trading activities of certain entities engaged in the segment from April 2014 to September 2015