The decision has been taken in view of the prevailing situation due to the Covid-19 pandemic and partial lockdowns in various areas of the country.
Besides, the regulator received representations from stock brokers regarding changes to the systems and software development.
In a circular, the Securities and Exchange Board of India (Sebi) said the mechanism of pledge and re-pledge will be implemented with effect from August 1.
Trading members (TMs) or clearing members (CMs) need to align their systems and accept client collateral and margin-funded stocks by way of creation of pledge and re-pledge in the depository system.
It further said TM or CM will also be allowed to accept client