Stay abreast with the latest developments in the professional domain along with in-depth analysis through the monthly BCA Journal. Get access to an engaging library of researched publications from the BCAS stable.
Learn MoreExplore past issues of BCA Journal & indulge in a treasure trove of high-quality professional content across format of print, videos & learning events from the BCAS stable.
Learn More
India’s Margin Trading Facility (MTF) has grown fivefold since FY23, reaching ₹1.3 lakh crore by mid-2026, offering investors leveraged purchasing power. While enhancing capital efficiency, leverage magnifies downside risks like margin calls and forced liquidation.
Regulated by SEBI since 2004, proposed 2026 reforms seek risk-controlled optimisation by harmonising collateral and introducing rebalancing periods to ease operational frictions. Compliance requires strict half-yearly audits by Chartered Accountants. As technology drives correlated trading behaviours, future frameworks must monitor leverage across investor, broker, and systemic levels to maintain market stability.
INTRODUCTION
India’s capital market has undergone significant transformation over the past two decades. The growth of digital trading platforms, easier account opening, affordable internet access and increasing financial awareness have brought a larger number of investors into the securities market. At the same time, investors have increasingly looked for greater purchasing power and flexibility without committing their entire capital upfront, thereby contributing to the growing relevance of the Margi
