THE DEFECT RATE in settlements of Indian equity markets have halved after the shift to the T+1 settlement cycle, Securities and Exchange Board of India (Sebi) chairperson Madhabi Puri Buch said on Tuesday. She was speaking at the Confederation of Indian Industry's (CII) 17th Corporate Governance Summit.
Buch added that prior to moving to the T+1 settlement cycle, the defect rate in the Indian equity market was 0.7%-0.8%, while after the implementation of T+1,it has halved to 0.3%-0.4%.
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