What is a quarterly settlement (auto payout done to my registered bank a/c)?

As per SEBI's guidelines, brokers must transfer funds from the client's trading account to the registered bank account. This process is, quarterly settlement of funds or running account settlement. SEBI says, the running account of funds shall be settled on the first Friday of every quarter, and if the First Friday is a holiday then settlement shall happen on the previous trading day. For more reference checkout: https://www.sebi.gov.in/legal/circulars/jul-2022/settlement-of-running-account-of-client-s-funds-lying-with-trading-member-tm-_61222.html.