What is the settlement cycle in Indian stock market?

On January 27, 2023, India adopted the T+1 (Trade + 1) settlement cycle. The T+1 settlement cycle requires all trade-related settlements to be finalised within one business day of the transaction.  India had weekly settlement system until 2001. In April 2002, the Indian capital markets introduced T+3 rolling settlement cycle.  The settlement cycle of T+3 under the Rolling Settlement System, was shortened further to T+2 rolling settlement, w.e.f. April 01, 2003. With effect from January 01, 2022, flexibility was provided to recognized Stock Exchanges (“SEs”) to offer either T+1. From Jan 2023, T+1 settlement cycle was fully implemented.