We’ve updated the article accordingly. Thanks @Nilesh_Rathi
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@Bhuvan @Neelesh If we buy units directly from the MF website and have the units credited to demat account with Zerodha, can we later use coin for redeeming these units?
In this case, which bank account will the funds get credited to? The bank account used for purchasing the units, or the bank account linked to the demat account?
How are you able to purchase mf directly from amc web site and adding to zerodha Demat? I don’t think amc provide that option in their portal. If any such things exist please elobarate to others for knowledge too
if you purchase MF directly from AMC, it will be in NON-DEMAT folio mode
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No. At the time of purchase, you can choose the demat option. Once you chose this option, it asks for your demat account details and the units are credited to the demat account in T+3 days.
I have even pledged these units for collateral margin, after they were credited to demat account!
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can you sell these DEMAT folios directly in AMC sites without DP?
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Coin is meant for buying and selling. Funds will be credited to your primary bank account linked to your Zerodha demat.
Hey @sandy7 We’re currently testing the flow out. The reason for the delay is because banks are having to build new integrations with the exchange and now we’re totally dependent on the banks. But it looks like we should be able to start allowing this by the month end.
@Bhuvan - Will there ever be a solution to automate the SIPs. With new OTP system. doing this multiple times a month has become more problematic.
Atleast please provide an update. It has been so long till we had one
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Sorry, yep. We’re working on mandates, the reason why this taking time is banks are having to build new integrations with BSE from scratch, and unfortunately we’re dependent on banks. We also faced multiple challenges with the existing payment flows and over the last month, we’ve built everything from scratch and are testing it.
I understand making payments everything month is a hassle. Please bear with for a little more time and we should have mandates live.
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@bhuvan @neelesh please look into the issue, it has been more than 10 days since I made the payment, but no refund has been received. Moreover i made one payment of Rs 100000 on 7th October for purchase of HDFC Overnight that too failed in similar fashion. My total amount stuck is Rs 595000 (495000 + 100000). Please have it refunded ASAP. Ticket is #20221004674025. This netbanking thing is giving nightmares. Sometimes it works sometimes doesn’t. And Please expedite NEFT/RTGS mode. I think that will be much safer than netbanking.
TIA
Why not use UPI?
UPI Limit in PNB is 1 lakh. I already use that, thereafter has to resort to netbanking thing.
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1 lakh per month or 1 lakh per transaction?
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Checking this.
1 lakh per day.
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any update sir ji ??? how much time it will take ??
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@Bhuvan
Regarding mutual fund sip mandates
By when can we expect? Which Banks already have smooth integration with bse please list them if u have?
Thanks for the prompt reply. However what is the status or progress. I mean its not right just giving a blanket reply saying we are working on it and the bottle necks are not something we can control.
Can you please provide any status. like what is done what is to be done so that atleast we know what is happening and plan accordingly.