Change in Pay-in & Pay-Out Time for NSE and BSE Settlements – What Investors Need to Know
The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) have announced changes in the Pay-in and Pay-out timings for settlements due to a Settlement Holiday on February 19, 2025. Investors, brokers, and traders need to be aware of these new deadlines to ensure seamless trading and settlement of securities.
In this blog, we’ll simplify these changes, explain their impact, and provide actionable steps for investors and traders to stay compliant.
What is Pay-in & Pay-out in Stock Market Settlements?
Pay-in refers to the process where investors must deliver securities or funds to the clearing corporation within the stipulated time.
Pay-out is when the clearing corporation transfers securities or funds to investors after successful settlement.
These timings are crucial because failing to adhere to them can lead to penalties, delayed settlements, or even auction proceedings for undelivered securities.
Updated Pay-in & Pay-out Timings for NSE & BSE (February 20, 2025)
NSE Settlements (National Stock Exchange)
| Market Type | Settlement No. | NSDL Deadline (New Time) | NSE Pay-in Time (New Time) | Pay-in/Pay-out Time | Pay-out Date |
|---|---|---|---|---|---|
| Normal, Trade for Trade, ITP for SME | 2025036 | 10:20 AM | 10:30 AM | 12:30 PM | 20-Feb-25 |
| Normal, Trade for Trade, ITP for SME | 2025037 | 1:50 PM | 2:00 PM | 4:30 PM | 20-Feb-25 |
Key Update: Auction settlement for 2025037 will not take place. Shortages in settlements 2025037 and 2025038 will be moved to Auction settlement 2025038.
SLB Settlements (Stock Lending & Borrowing – NSE)
| Market Type | Settlement No. | NSDL Deadline (New Time) | NSE Pay-in Time (New Time) | Pay-in/Pay-out Time | Pay-out Date |
|---|---|---|---|---|---|
| SLB First Leg | 2025037 | 10:05 AM | 10:15 AM | 12:00 PM | 20-Feb-25 |
| SLB Return Leg | 2025734 | 8:20 AM | 8:30 AM | 9:45 AM | 20-Feb-25 |
BSE Settlements (Bombay Stock Exchange)
| Market Type | Settlement No. | NSDL Deadline (New Time) | BSE Pay-in Time (New Time) | Pay-in/Pay-out Time | Pay-out Date |
|---|---|---|---|---|---|
| Rolling Market Lot | 2425824 | 10:20 AM | 10:30 AM | 12:30 PM | 20-Feb-25 |
| Rolling Market Lot | 2425825 | 1:50 PM | 2:00 PM | 4:30 PM | 20-Feb-25 |
Institutional Trading Platform Settlements (BSE – ITP)
| Market Type | Settlement No. | NSDL Deadline (New Time) | BSE Pay-in Time (New Time) | Pay-in/Pay-out Time | Pay-out Date |
|---|---|---|---|---|---|
| ITP | 2425225 | 1:50 PM | 2:00 PM | 4:30 PM | 20-Feb-25 |
SLB Settlements (Stock Lending & Borrowing – BSE)
| Market Type | Settlement No. | NSDL Deadline (New Time) | BSE Pay-in Time (New Time) | Pay-in/Pay-out Time | Pay-out Date |
|---|---|---|---|---|---|
| SLB | 2425224 | 10:05 AM | 10:15 AM | 12:00 PM | 20-Feb-25 |
What These Changes Mean for Investors & Traders
Earlier Pay-in Deadlines: Investors need to ensure securities or funds are available earlier than usual to meet new deadlines.
Risk of Missing Cutoffs: Failure to deliver funds or shares before the new Pay-in times can result in penalties or auction proceedings.
Changes in Liquidity Timing: With Pay-out times also adjusted, traders should manage their liquidity needs accordingly.
Institutional Investors Must Adapt: Institutions trading in SLB (Stock Lending & Borrowing) and ITP (Institutional Trading Platform) must ensure compliance with the updated schedule.
Clearing & Settlement System Updates: Market participants using automated systems must update their software settings to align with the revised deadlines.
How to Stay Compliant?
Review New Deadlines: Ensure your brokerage or settlement system reflects the updated Pay-in and Pay-out timings.
Submit Funds & Securities Early: Avoid last-minute transactions to prevent settlement failures.
Verify Transactions Before Cut-off: Check all transactions before the NSDL deadlines to ensure they are correctly captured.
Coordinate with Brokers & Depositories: If you’re an institutional trader, confirm execution timelines with your broker or custodian.
Monitor NSDL Notifications: Stay updated with announcements from NSDL, NSE, and BSE to avoid surprises.
FAQs on the Pay-in & Pay-out Time Change
Change in Pay-in & Pay-Out Time for NSE and BSE Settlements – What Investors Need to Know
The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) have announced changes in the Pay-in and Pay-out timings for settlements due to a Settlement Holiday on February 19, 2025. Investors, brokers, and traders need to be aware of these new deadlines to ensure seamless trading and settlement of securities.
FAQs on the Pay-in & Pay-out Time Change
1. Why has NSE and BSE changed settlement deadlines?
Due to a settlement holiday on February 19, 2025, the exchanges have adjusted the deadlines to maintain smooth market operations.
2. What happens if I miss the Pay-in deadline?
Your transaction may be moved to the auction market, and you may incur penalties or higher settlement costs.
3. How will this impact my intraday trading?
Intraday traders should note the changes as settlement timelines can impact liquidity availability for subsequent trades.
4. Does this affect my mutual fund transactions?
If your mutual fund investment involves equity settlement, the Pay-in/Pay-out time may influence the NAV applicability of your order.
5. Will this impact foreign investors?
Yes, Foreign Portfolio Investors (FPIs) must also adhere to the revised timelines, ensuring their brokers manage settlements accordingly.
6. How do I check if my Pay-in was successful?
Investors can check the Pay-in status by logging into their brokerage accounts, reviewing NSDL/CDSL statements, or verifying with their depository participants (DPs).
7. Can settlement delays lead to penalties?
Yes, failing to meet the Pay-in timeline could result in penalties, delayed settlement, or the transaction being processed through the auction mechanism at a higher cost.
8. Will the new Pay-in/Pay-out timings remain the same in future?
The changes apply specifically due to the Settlement Holiday on February 19, 2025. However, the exchanges may introduce future modifications as needed. Always check for updates from NSE, BSE, and NSDL.
9. What are the possible risks for traders due to the change?
Traders who fail to adjust their funding and securities availability to match the new settlement timings risk delays in trade execution, additional brokerage charges, or liquidity issues.
10. How do brokerage firms adjust to these changes?
Most brokerage firms update their trading systems, send notifications to clients, and automate settlements to comply with the revised Pay-in/Pay-out structure. It is advised that traders confirm with their brokers to avoid disruptions.
11. What happens if my broker does not process my Pay-in on time?
If your broker fails to process the Pay-in, your transaction could be considered a short delivery, leading to auction settlement or additional penalties. Always confirm with your broker in advance.
12. Do these changes affect derivative settlements?
The revised Pay-in/Pay-out times primarily affect equity and SLB settlements. However, traders should verify if their F&O trades require additional margin adjustments based on settlement updates.
13. Can retail investors face issues with the new timings?
Retail investors who rely on last-minute fund transfers or stock sales to meet Pay-in deadlines should adjust their trading schedule to ensure smooth settlements.
14. Does this impact settlement for IPOs or buybacks?
No, IPO allotments and share buyback settlements typically follow separate timelines. However, investors should verify any potential delays with their DPs or brokerage firms.
15. Where can I get official updates on settlement changes?
The latest announcements on settlement changes are available on the official websites of NSE, BSE, NSDL, and SEBI. Traders should also check updates from their brokerage firms.
Final Thoughts – Stay Updated, Trade Smart
The changes in NSE and BSE settlement deadlines require traders and investors to be proactive and aware of their transaction timelines. Ensuring timely Pay-in and Pay-out will help avoid unnecessary penalties and settlement risks.
Need expert guidance on stock market compliance? Contact Estabizz Fintech Private Limited for personalized financial solutions.
Get in touch today!
Disclaimer – Estabizz Fintech Private Limited
The information in this blog is for educational and informational purposes only and does not constitute financial, legal, or investment advice. While we strive to provide accurate details, settlement rules and trading conditions are subject to change by NSE, BSE, and regulatory authorities.
Traders and investors are advised to verify with their brokerage firms and depositories before executing transactions. Estabizz Fintech Private Limited is not responsible for any losses or damages incurred due to reliance on this information.
For the latest updates, always refer to official NSE, BSE, and NSDL announcements.
Stay informed. Stay compliant. Contact Estabizz Fintech for expert insights! 
Final Thoughts – Stay Updated, Trade Smart
The changes in NSE and BSE settlement deadlines require traders and investors to be proactive and aware of their transaction timelines. Ensuring timely Pay-in and Pay-out will help avoid unnecessary penalties and settlement risks.
Need expert guidance on stock market compliance? Contact Estabizz Fintech Private Limited for personalized financial solutions.
Get in touch today!
Disclaimer – Estabizz Fintech Private Limited
The information in this blog is for educational and informational purposes only and does not constitute financial, legal, or investment advice. While we strive to provide accurate details, settlement rules and trading conditions are subject to change by NSE, BSE, and regulatory authorities.
Traders and investors are advised to verify with their brokerage firms and depositories before executing transactions. Estabizz Fintech Private Limited is not responsible for any losses or damages incurred due to reliance on this information.
For the latest updates, always refer to official NSE, BSE, and NSDL announcements.
Stay informed. Stay compliant. Contact Estabizz Fintech for expert to guide for compliance !
