Description
BSE announces revised settlement schedule for Electronic Gold Receipts segment due to Eid-e-Milad holidays on September 5 and 8, 2025.
Summary
BSE has revised the settlement programme for the Electronic Gold Receipts (EGR) segment for the period September 3-9, 2025, following RBI’s circular regarding settlement holidays on September 5 (Eid-e-Milad) and September 8, 2025.
Key Points
- Settlement holidays declared for September 5 and September 8, 2025 due to Eid-e-Milad
- Five settlement cycles (DR-112 through DR-116) affected with revised timelines
- Pay-in deadline remains 2:00 PM for regular settlements
- Pay-out of funds and securities by 4:00 PM
- Auction pay-in timing at 9:00 AM with submission deadline of 8:50 AM
Regulatory Changes
Revised settlement schedule implemented in compliance with RBI circular dated September 4, 2025 regarding settlement holidays.
Compliance Requirements
- Members must submit pay-in instructions to depositories/banks by 2:00 PM for regular settlements
- For auction settlements, pay-in instructions must be submitted by 8:50 AM
- All participants in EGR segment must follow the revised settlement timeline
Important Dates
- September 5, 2025: Settlement holiday (Eid-e-Milad)
- September 8, 2025: Settlement holiday
- September 9, 2025: Multiple pay-in/pay-out activities scheduled
- September 10-11, 2025: Extended settlement activities for affected cycles
Impact Assessment
The revised schedule primarily affects EGR segment participants with extended settlement cycles. Trading continues normally but with adjusted settlement timelines. Market liquidity may be temporarily affected due to holiday-related delays in settlement processes.
Impact Justification
Settlement schedule changes affect EGR trading participants but limited to specific segment and short duration