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of <h1>SEBI Circular: Stock Exchanges Can Set Bank Guarantee Tenures; New Close-Out Rule for Suspended, Delisted Scrips.</h1> The circular issued by the Securities and Exchange Board of India (SEBI) addresses risk management in equity markets. It allows stock exchanges to decide the tenure of bank guarantees deposited by members for both Base Minimum Capital and additional capital. Furthermore, for scrips that are indefinitely suspended or delisted, the close-out procedure will use a reference price based on a twenty-six-week average traded price with a 20% markup. Exchanges are instructed to implement these decisions.
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