Assertion: Pay-in day is also called T+2 day.
Reasoning: On the T+2 day, the exchange will deliver the share or make payment to the other broker.
Reasoning: On the T+2 day, the exchange will deliver the share or make payment to the other broker.
Answer & explanation
Correct answer: option 4
On the T+2 day, the exchange will deliver the share or make payment to the other broker. This is called the pay-out day. The broker then has to make payment to the investor within 24 hours of the pay out day since he has already received payment from the exchange. Thus, Assertion (A) is not true but Reasoning (R) is correct.