The Securities and Exchange Board of India (SEBI) is understood to have hit pause on its plan to expand the T+0 settlement cycle, extending the deadline indefinitely after negligible investor interest, wafer-thin pilot volumes, and concerns that a dual settlement system could fragment market liquidity, according to people familiar with the matter.

Most qualified stock brokers (QSBs) had completed around 60–70 per cent of the required systems and process work but have asked SEBI to make the framework optional even for brokers, saying the same-day settlement plan lacks a viable business case and could disrupt the smoother T+1 cycle.

The markets regulator, in its circular on Thursday, only said that QSBs needed more time for a “smooth implementation”, but sources said the open-ended exten

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