SEBI proposes price data for educational purposes be shared with 30-day lag

Securities and Exchange Board of India (SEBI) proposed to allow sharing price data for educational purposes with 30-day lag, in its consultation paper released on January 6 2026.

The current regulations allow purely educational institutes to have data with one day lag and use them with three month lag, going by January 2025 circular.

“SEBI received stakeholder comments on the time lag of one day being too short, and that there were possible cases of misuse of one-day time lag data, making out a case for increasing the time lag to a larger period. Internally, it was also deliberated that three months lag was too long and that the educational input could be more efficient if the period were to be reduced. In this regard, it is felt that a time lag of 30 days for both sharing and usage of price data would suffice the purpose of protecting against misuse of exchange data as well as keeping the education content relevant,” SEBI proposed.

The markets regulator also proposed that January 2025 provisions continue. The paper is open for public comments until January 27, 2026.

The consultation paper comes three days ahead of the SAT hearing involving Avadhut Sathe Trading Academy’s plea requesting the interim order be stayed. The academy allegedly used live price data for trading classes and was sharing the data in online groups with students in it as an investment advise. Avadhut Sathe and his academy were directed to pay a penalty of ₹546 crore, their banks accounts frozen barring ₹2.25 crore to pay one month expenses and stop all investment advisory activites