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of <h1>SEBI Circular Mandates Uniform Holidays for Banks and Stock Exchanges to Streamline Trade Settlements and Transfers.</h1> The circular addresses the issue of non-uniform holidays between banks and stock exchanges, leading to multiple settlements on the first working day after closures. To ensure smooth settlement processes, stock exchanges and depositories must follow specific guidelines, including sequential trade settlements and facilitating inter-depository transfers within one hour. The circular mandates that securities be transferred from brokers' pool accounts to clients' accounts within one working day, with penalties for delays. Stock exchanges and depositories must amend their regulations accordingly and report implementation status to SEBI. This circular is issued under the authority of the Securities and Exchange Board of India Act, 1992.
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