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of <h1>SEBI Approves Liquidity Enhancement Schemes for Illiquid Equity Cash Securities; Incentives Capped at 25% of Net Profits.</h1> The circular issued by the Securities and Exchange Board of India (SEBI) permits stock exchanges to introduce Liquidity Enhancement Schemes (LES) to improve liquidity in illiquid securities within the Equity Cash market. LES can be applied to securities with a mean impact cost of 2% or more for a specified order size or those in the 'permitted to trade' category. The scheme's implementation requires board approval, regular monitoring, and transparency. Incentives under LES are capped at 25% of net profits or free reserves and must comply with relevant regulations. The circular excludes securities on SME platforms and mandates exchanges to report LES performance to SEBI biannually.
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