SEBI Updates Rules: Inactive Client Funds Must Be Returned on Monthly Settlement Date, Not After 30 Days.

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....SEBI has revised the requirement for mandatory settlement of client funds who have not traded in the last 30 calendar days. Such clients' entire credit balance shall now be returned by the Trading Member on the upcoming settlement dates of the monthly running account settlement cycle as notified by Exchanges, instead of within three working days after 30 days of inactivity. However, if the client trades before the upcoming monthly settlement, the settlement shall continue as per the client's preference for quarterly/monthly cycle. The provisions are effective immediately to facilitate ease of doing business while safeguarding investor interests.....