Description
BSE revises Electronic Gold Receipts (EGR) settlement schedule for September 3-9, 2025 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 from September 3-9, 2025, following RBI’s circular dated September 4, 2025 regarding settlement holidays on account of Eid e Milad on September 5 and 8, 2025.
Key Points
- Settlement holidays declared for September 5 and 8, 2025 due to Eid e Milad
- Revised settlement schedule covers 5 settlement cycles (DR-112 to DR-116)
- Pay-in deadline remains 2:00 PM for regular settlements
- Pay-out timing maintained at 4:00 PM
- Auction pay-in timing set at 9:00 AM with submission deadline of 8:50 AM
Regulatory Changes
This is a temporary operational adjustment in response to RBI’s settlement holiday circular, not a permanent regulatory change.
Compliance Requirements
- Members must submit pay-in instructions to Depositories/banks by 2:00 PM for regular settlements
- For auction settlements, members must submit pay-in instructions by 8:50 AM
- All existing EGR segment rules and procedures remain applicable
Important Dates
- September 3, 2025: DR-112 trading date, pay-in/pay-out September 4
- September 4, 2025: DR-113 trading date, pay-in/pay-out September 9
- September 5, 2025: DR-114 trading date (holiday), pay-in/pay-out September 9
- September 8, 2025: DR-115 trading date (holiday), pay-in/pay-out September 9
- September 9, 2025: DR-116 trading date, pay-in/pay-out September 10
Impact Assessment
The revised settlement schedule will result in extended settlement periods for trades executed on September 4, 5, and 8, with all settling on September 9. This consolidation may increase operational load on September 9 but ensures compliance with RBI holiday declarations while maintaining market continuity for EGR segment participants.
Impact Justification
Settlement schedule changes affect EGR segment operations but are temporary adjustments for religious holidays