The exchanges have taken heed of the issue and changed the rules for options expiring in the money.

Petition updateSecurity transaction tax(STT)-A bad deal for traders & a systemic risk for capital marketsThe exchanges have taken heed of the issue and changed the rules for options expiring in the money.

Chirag GuptaIndia

Aug 22, 2017

The exchanges have released a new framework to allow members to mark option contracts close to the money as 'do not exercise' and thus solving the problem. The links to the exchange circulars are below: NSE: https://www.nseindia.com/content/circulars/CMPT35635.zip BSE: http://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20170821-18

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The Economic Times supports the cause