T+0 to stay optional for now, says SEBI chief Tuhin Kanta Pandey

T+0 to stay optional for now, says SEBI chief Tuhin Kanta Pandey

India’s market regulator is in no hurry to mandate same-day (T+0) trade settlement, with SEBI Chairman Tuhin Kanta Pandey making it clear that the mechanism will remain optional for now.

“T+0 was always intended to be optional, and we continue with that intention,” Pandey told Moneycontrol. “It may not take off in a big way, and that’s okay.”

While the move to T+1 settlement placed India ahead of global peers—prompting questions from international regulators on how it was pulled off—Pandey said further acceleration must consider the readiness of the entire ecosystem. “There are domestic investors, FPIs, custodians, banks, all operating across time zones. It’s not enough to announce a change without understanding how each part will adapt.”

Pandey added that SEBI has already demonstrated that T+0 is technologically feasible, and the optional phase has offered valuable lessons. But a full-scale shift will need a coordinated approach across all stakeholders. “It’s not a matter of priority at the moment,” he said.