The Securities and Exchange Board of India (SEBI) has introduced a new framework to monitor intraday positions in equity index derivatives, aiming to manage large exposures and maintain market stability. Effective from October 1, the net intraday position is capped at 5,000 crore rupees per entity in index options, compared to the existing end-of-day limit of 1,500 crore rupees. The gross intraday limit remains at 10,000 crore rupees. Stock exchanges will now track positions using at least four random snapshots daily, including one during peak activity between 2:45 pm and 3:30 pm. Breaches will trigger scrutiny, with penalties or additional surveillance deposits imposed. SEBI aims to reduce excessive risk-taking and ensure orderly market functioning through this stricter oversight.