The SEBI has introduced a circular regarding the execution of Demat Debit and Pledge Instruction (DDPI) which will replace the POA (Power of Attorney). DDPI is an authority a client gives to the broker and to the depository participants for the purposes mentioned below. This is effective from 18th November 2022. How to Opt For DDPI? […]
Category: Demat Account Queries & Solutions
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Account Opening(21)
What is the new mechanism of pledge and re-pledge for collateral?
Current system To get higher exposure you can deposit the cash or use stocks in your demat account as collateral. When a client pledges the share to get extra intraday exposure or overnight position, the shares used to be transferred to the broker’s margin account (from client’s demat account to broker’s demat account for margin […]
Upfront margin collection for cash segment just like derivatives
Latest update of 3rd September 2020: As per the exchange circular, it is decided not levy margin short penalty till 15th Sept, 2020. In derivative segments, collection of upfront margin from clients has been mandated for a long time. Now, SEBI has mandated the brokers to collect and report an upfront margin even for the […]
Uniform Stamp Duty Rates as per Union Budget 2019-20
Central Government has simplified the collection of Stamp Duty process. A uniform Stamp Duty rate shall be charged across the states in stocks, derivatives, currencies and commodities. Collection shall be through Exchanges and Clearing Corporations. Earlier to this, the Stamp Duty was charged at the rate specified by your state government. We as broker used […]
How do I activate my dormant account?
An account is marked as Dormant if it is inactive or remains non-operational by its holder for more than 12 months. To reactivate your dormant account, kindly follow the below procedure. Login to BOX back office You can see a popup as shown below. Click on “YES” if you want to activate your account. After click […]
How can I modify my bank account online?
As per the regulations, clients have to transfer funds to their trading account only through the registered bank account with us. You can register maximum 3 bank accounts with us at any point of time and transfer funds to us from any of them. However, payments (withdrawal) from us will be made only to the […]
How are Delayed Payment Charges computed?
The DPC (Delayed Payment Charges) are levied in the following scenarios Ledger debit or Margin shortfall: DPC will be charged @ 0.05% per day on the margin shortfall/ledger debit. If there is no margin shortfall/ledger debit at the end of the day, these charges will not be levied. Cash component less than 50% in case […]