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of <h1>SEBI Revises Delivery Default Penalties for Commodity Derivatives; New Rates for Agricultural and Non-Agricultural Commodities.</h1> The Securities and Exchange Board of India (SEBI) issued a circular revising delivery default penalties for commodity derivatives. For agricultural commodities, the penalty for seller defaults is set at 4% of the settlement price plus replacement cost, while for non-agricultural commodities, it remains at 3% plus replacement cost. Clearing Corporations are tasked with implementing penalties for buyer defaults. Penalties collected will be distributed among the Settlement Guarantee Fund, administrative expenses, and the non-defaulting buyer. These changes aim to standardize norms, strengthen deterrents, and ensure fair compensation, effective from May 2021.
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