Published 3 July 2026 · By the PCJ Desk · about 5 min read · General educational information, not investment advice.
When you buy or sell a share, two things must happen behind the scenes: the money moves and the shares move. “Settlement” is when that exchange is completed and the shares land in your demat account (or the funds land in your bank). The settlement cycle is simply how long that takes.
T+1: the mainstream cycle
India runs on a T+1 cycle — trade today (T), settle the next working day. India completed its phased move to full T+1 for all stocks in January 2023, becoming one of the first major markets to do so. For you, it means shares you buy are credited, and money from shares you sell is available, one working day after the trade.
T+0: optional same-day settlement
SEBI has since introduced an optional T+0 (same-day) cycle that runs in parallel with T+1. It was rolled out in phases for the top 500 stocks by market capitalisation from 31 January 2025, and by 2026 is available across those top 500 names on an optional basis. In a T+0 session, trades are placed until about 1:30 pm, obligations are determined by around 2:30 pm, and settlement is completed the same day.
“Optional” is the key word: T+0 exists alongside T+1, and adoption is still growing as the market gets used to it. SEBI has signalled it may widen the list of eligible stocks over time.
What it means for you
Faster settlement means quicker access to your funds and securities and lower settlement risk. Whether a specific stock or session settles on T+1 or T+0 depends on eligibility and the facility being offered — your PCJ platform and RM can tell you what applies to a given trade.