The Securities and Exchange Board of India (Sebi) has clarified the rules regarding the use of market data for educational purposes by introducing a 30-day lag for sharing this data, effective July 1, 2026. This decision addresses a year-long regulatory confusion stemming from conflicting circulars issued in 2024 and 2025. The earlier guidelines had created a 'regulatory vacuum' that led to misunderstandings about the timelines for using live market data in educational contexts. Stakeholders expressed concerns that a one-day lag was too short, while a three-month delay rendered the data less useful. The new circular allows for a balanced approach, while the National Institute of Securities Markets (NISM) will continue to access market data with a one-day lag for its training programs. This change aims to enhance regulatory clarity and support better investor education.