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Market regulator SEBI has allowed the current system with regard to pledging of shares with brokers for margin purpose to continue till August 31. Brokers will be able to continue using the Power of Attorney to transfer shares for margin purpose for one more month.
The SEBI had earlier specified guidelines with regard to margin obligations to be given by way of pledge and re-pledge of shares in the depository system. These guidelines were to kick in from August 1. But now SEBI has said that the old system can run parallely till August 31 as brokers said they lacked preparation for the new system.
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