Pay in day is the day when the brokers shall make
payment or delivery of securities to the exchange. Pay out day is the day when
the exchange makes payment or delivery of securities to the broker. Settlement cycle is on T+2 rolling settlement
basis w.e.f. April 01, 2003. The exchanges have to ensure that the pay out of
funds and securities to the clients is done by the broker within 24 hours of
the payout. The Exchanges will have to issue press release immediately after
pay out.
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