India transitioned to T+1 settlement, where trades are settled within a day, in January. The Securities and Exchange Board of India (SEBI) now plans to allow instant settlement by October next year as an option running alongside T+1 settlement.
For the unversed, Sebi has shortened the settlement cycle to trade day-plus-one (T+1) from T+2 in January this year. The regulator also announced that it would move to a T+1 settlement cycle for all scrips, effective October 1, 2023.