How the brokerage industry is reacting to new intraday margin policy?

The brokerage firms who offer higher leverage for intraday trade is going to restrict their clients with exchange required margin.  For stock brokers, this has a positive and negative reaction. For the short term, this is going to be a pain as a number of trades are going to be reduced, but positive sign in terms of risk management.

Discount brokers like Zerodha, Upstox, Samco, 5pasia – who were offering up to 33x margin with MIS, CO and BO, now going to offer SPAN + Exposure for F&O, and VaR + ELM for equity.

Full-service brokers (Brick & Mortar brokers) like sharekhan, Angel broking, India Bulls, Edelweiss, Geojit who has branch offices/sub broker offices and allowing the trades without collecting full margin upfront, now need to collect exchange required margin upfront in client's account.