The new account settlement mechanism for the stock brokerage business will go into effect on October 1.

Trading members must settle their accounts on a monthly or quarterly basis on the first Friday of the month or quarter, per new SEBI regulations that became effective on October 1 and were announced in July.

Stockbrokers must settle or transfer the available credit amount from their trading account to their bank account, at least once every three months (90 days) or every 30 days, according to the market regulator.

Running account settlement, also known as quarterly settlement of money, is the process of moving unused funds back into the customer's primary bank account, which is connected to the trading account.

The settlement will now take place on the first Friday of the quarter or the month, depending on the option the customer chooses.

Source: Indian Express

https://indianexpress.com/article/explained/explained-economics/new-account-settlement-system-from-october-1-what-changes-8167443/