The Securities and Exchange Board of India (SEBI) is set to introduce a beta version of T+0 settlement, starting from March 28. This new settlement cycle means that funds and securities for a transaction will be settled on the same day the trade is initiated. Initially, it will be offered as an option alongside the existing T+1 settlement. SEBI aims to reduce counterparty risk and increase market liquidity with this shorter settlement cycle, which follows previous reductions from T+5 to T+1. The move is expected to enhance market efficiency and risk management.