The Settlement Date is the official date on which a securities transaction is completed—when the buyer receives the purchased securities and the seller receives the corresponding payment. In India, SEBI moved equity markets to a T+1 settlement cycle (one business day after the trade date) in 2023, making it one of the fastest settlement systems globally. For options and futures, settlement occurs on specific expiry dates. Understanding settlement dates is critical for investors to ensure adequate funds or securities are available in their trading accounts to avoid settlement failures.