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<h1>SEBI Updates Securities Lending Framework: Dividend Recovery from Borrowers to Lenders on Record Date. Exchanges to Amend Rules.</h1> The Securities and Exchange Board of India (SEBI) issued a circular modifying the Securities Lending and Borrowing (SLB) framework. The modification specifies that the dividend amount will be calculated and recovered from the borrower on the book closure or record date and passed to the lender. Other existing provisions from previous SEBI circulars will remain applicable. Stock exchanges are instructed to amend relevant rules, inform member brokers, and report implementation status to SEBI. This circular is issued under SEBI's authority to protect investor interests and regulate the securities market.