SEBI’s New Pledge & Re‑Pledge Rules: What Depositories Must Do to Comply and Lead
Introduction Collateral-backed trading is the lifeblood of modern capital markets. In India, margin pledge and re‑pledge systems were overhauled in 2020 to improve investor protection. Recently, in 2025, SEBI has gone a step further with a circular on June 3, 2025, that tightens operations around pledge invocation followed by early pay‑in of invoked securities, pledge release, and redemption of…
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