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of <h1>SEBI Approves Automated Lending and Borrowing Mechanism Under Stock Lending Scheme 1997; Exchanges Must Meet Specific Criteria.</h1> The Securities and Exchange Board of India (SEBI) has approved the Automated Lending and Borrowing Mechanism (ALBM) as a generic product to facilitate securities lending and borrowing under the Stock Lending Scheme 1997. Exchanges can introduce ALBM if they have robust software and governance for margin computation and are approved intermediaries. Eligibility criteria for scrips, position limits, and risk management measures, including margins and short sale transactions, are outlined. Pure securities borrowers are defined and subject to specific conditions. Exchanges must obtain SEBI approval before implementing ALBM.
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