Explained on 26 October 2026. This is an educational answer drawn from the dated article below; examples are hypothetical unless a specific source observation is identified.
How it works
A useful calculation shows both constraints before choosing the amount. Match the same security, eligible transactions and rule scope. Valuation and operational details must follow the actual framework and participant controls. An educational rupee example explains the cap but cannot determine a broker account’s available trading limit.
A simple example
Assume hypothetical accepted early pay-in value of ₹1 lakh and an eligible sale obligation of ₹70,000. The lower amount is ₹70,000. If the sale obligation is ₹1.2 lakh instead, the accepted ₹1 lakh becomes the limiting value. Other required conditions still apply.
What to check
- Keep delivery value and obligation value separate.
- Apply the relevant lower-value limit.
- Confirm eligibility with the actual intermediary process.
Read the full event and evidence
SEBI’s Early-Pay-In Margin Relief: The Benefit Has Conditions and a February Start explains the original event, its dates and the supporting documents. Event context: 22 October 2026 circular; effective four months later.