In its board meeting in December 2022, SEBI floated a framework for the Investor Risk Reduction Access (IRRA) platform which should be provided by the exchanges. In case any broker faces downtime, traders can square off their open positions on this platform.
This will be a common platform under the guidelines of Investor Risk Reduction Access (IRRA), jointly provided by all Exchanges.
We will make a detailed post on this very soon covering all the aspects.