Ban intraday/ non delivery trades

What purpose, other than betting, is the reason for such trades? Stick to the basics of what a Share constitutes. A share of company ownership/capital. A minimum lock in of 5 days should be enforced for all buyers. The method of enforcement can be a progressive taxation regime. 99% tax for intraday. So the taxation should be enforced based on the Exact duration of the ownership, computers can compute that very easily. Since shares reside only in dematerialized form and the depositories of shares are only two in India which are both government owned, data of such trades is easily computable and enforceable.

The government makes money from betting may be a good excuse, just like lotteries, to continue with the charade. Market is always right, regulations should be lax and not too heavy, just right enough to protect the societal norms. In which case they should never be used as tools for progressive thought.

Stock market is not for betting. It should be differentiated from dog races and chicken fights. It is for serious investment and thats about it. Currently, about half of the trades are for non-delivery, so pure speculative bets, with no intention of investment. So about half of the share market is a glorified lottery game.