Streamlined Account Settlement For Users Who Haven’t Traded In The Past 30 Days1 min read
We’re excited to share an update to simplify the account settlement process for clients who have not traded in the last 30 days while safeguarding your interests. This new process aligns with SEBI’s guidelines and aims to provide a more streamlined experience for you.
What’s Changing?
Previously, stockbrokers were required to settle client accounts who have not traded in the last 30 days (no trades in the last 30 days). Moving forward, these accounts will now be settled on upcoming monthly settlement dates announced by stock exchanges.
What Does This Mean for You?
- If you haven’t traded in the last 30 days and have a credit balance in your trading account, your funds will be settled on the next monthly settlement date.
- For those who trade before the monthly settlement date, your preferred settlement cycle (monthly or quarterly) will apply.
Why This Change?
This update, recommended by the exchange, enhances efficiency while ensuring your funds remain secure.
Source : Link to circular
Effective Date:
The new process is effective immediately, making account settlements more convenient and aligned with market standards. For more details, read the SEBI Circular Here.
Conclusion:
We’re committed to enhancing your experience with us. If you have any questions about this change, feel free to reach out.
Disclaimer: Investments in the securities market are subject to market risks, read all the related documents carefully before investing. This content is purely for entertainment and engagement purposes only. Paytm Money Ltd SEBI Reg No. Broking – INZ000240532, Depository Participant – IN – DP – 416 – 2019, Depository Participant Number: CDSL – 12088800, NSE (90165), BSE (6707), Regd Office: 136, 1st Floor, Devika Tower, Nehru Place, Delhi – 110019. For more details, please visit https://www.paytmmoney.com