According to market sources, it is likely to be implemented after Budget 2024 and the immediate settlement will be implemented a few months after that. T+1 settlement means all settlement related to trades in the stock market should be completed within a day or 24 hours. For example, if you are an investor and have bought 50 shares on Monday, the same should be reflected in your demat account on Tuesday. SEBI has implemented this facility in January 2023.
rein in miss selling
SEBI Chief cautioned everyone on miss selling and said that the governance is that think first about how suitable you find the product and service you are offering for the people of your household. In financial services, a system is being prepared to curb miss selling by agents and distributors and work is on to stop it with the help of technology.