DEPUTY GENERAL MANAGER DEPOSITORIES AND CUSTODIAL DIVISION
To National Securities Depository Limited Central Depository Services (India) Limited
Dear Sir,
Depositories and Custodial Division -- Circular No. 19 Sub:Calendar for the implementation of T+2 rolling settlement w. e. f. April 1, 2003
It has been decided to shorten the settlement cycle from the existing T+3 rolling settlement to T+2 rolling settlement w. e. f. April 1, 2003. After detailed deliberations with various market participants, a time schedule for the implementation of T+2 rolling settlement beginning from April 1, 2003 was prescribed by SEBI on January 3, 2003. A summary of the time schedule is as follows:
The Depositories shall adhere to the following activities as per the prescribed time to implement the above time schedule for T+2 rolling settlement. The Depositories would in turn advise the Depository Participants (DPs) to adhere to the designated activities within the prescribed time limits and therefore, the earlier circular no. D&CC/FITTC/CIR – 07/2002 dated April 8, 2002 stands modified w. e. f. April 1, 2003 as under:
G.S. Reddy