Just wanted to say this is a very annoying regulation for people like me who have almost all cash with zerodha for trading and have monthly sips and hardly any cash in bank accounts.
@Bhuvan
After the discontinuation of pooling of mutual funds, will Zerodha change the cut off time with Industry Standard of 3:00pm ?
@Bhuvan what is the solution being worked now we want to know as July is approaching.
How will coin retain step up, pause SIPs, modify SIPs once this new rule is enforced.
We want to control SIPs from coin and not convert to AMC SIPs else managing demat mode of mutual funds is very difficult and approach to various fund houses.
The whole benefits of coin is lost then if zerodha coin doesnāt implement any solution
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@Bhuvan I started my MF investments through Coin this month only. I didnāt know this info earlier.
My Main worry is Frequency, Stepup sip editās possible or not ( after July1st). I have choosen frequently as WEEKLY to all my MFās as the current situation is volatile. One Sip on Monday , one on tuesday , one on Wednessday & one on Thursday Weekly.
Im currently using one Weekly frequency Bank e-mandate for all these. If after the July 1st if payment link is coming for each one (as mentioned above) then its impossible for me to manage everyday. Iām worried about this.
Please provide a solution for me, else i either has to change my investment style or the app itself as this info is very important to meā¦
Will post a detailed update soon. Please give us a bit more time.
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Sure @Bhuvan can you please tell by what date we can expect update as we request you to share max by next week mid of June so that we can plan July SIPs in better way as July 1st onwards new rule is applicable.
Will it be possible for coin to act like a gateway with BSE STar and directly debit and credit funds for SIPs via Bank to MF via OTM? also we want coin to retain pause/modify and step up functions
Please share what kind of IT support Coin can make use from BSE Star MF platform to make smooth transition
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@Bhuvan Yes Please update this info by mid June as said by @Sandeep_Gupta1 so that we will plan accordingly. Also please give info whether we can give MF orders by 3 PM or not (after July1st)
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@Bhuvan Quite a long time passed since your last revert. Pls update as we need to plan accordingly. Also it would be great if you let us know if Parag Parikh flexicap can be reconverted to COIN SIP from AMC SIP. Really missing step up/pause/modify features.
@Bhuvan Less than 2 weeks left for July 1st cutoff. Please update at least give a hint of what can be direction. Because my weekly E-Nachās r still going on, i want to take a decision on this.
Youāll have to setup new mandates and weāre currently testing a few things to see if we can keep Coin largely the same. Few features like pause/edit might go away. There have been multiple complications as you can imagine. Hence the delay in posting an update.
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@Bhuvan few questions i have, will be really helpful if you answer these.
- if edit/stepup r not present (if gone). We can delete current Sip & create new one with matching requirement, will those have same Folio number or will it be different. So any major difference here (other than delete n recreate manually)??
- Also will they be shown 2 times ( duplicate) in my portfolio or as a single item ( as it will be helpful for redemption n tax calculation).
- Weekly time period will be allowed for Sipās or we have to stick to Monthly only?
- Also if i put some lumpsum amount in my existing Coin Sip its showing in a single item & single folio number. Will it be the same going forward as well.
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@Bhuvan pause and edit why canāt if be retained or implement in AMC SIPs
In groww app where we create SIPs using non demat holding
Groww app provides pause/skip and edit SIPs option
This Skip Or pause SIPs is very important as for monthly sips sometimes when we donāt have sufficient funds itās needed without disturbing the delete and create new sip option
Why canāt you replicate same way in demat mode? Please work on it and enable
Also AMCs provide step up sips the. Why canāt step up implemented in amc sips
I as user want to set sips one shot and forgot and also need convenience of step up and pause skip and edit options even in AMC
Please explain why cannot it be done and what is ur plan asap
No concept of folio in demat model. You MFs will show as a single line item in your deamt holdings statement.
Will post an update soon.
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@Bhuvan Got it thanks, Need more clarity on these.
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Please convey whether Weekly time period is allowed or not (after July 1st ). Currently i can see only Monthly frequency for AMC Sipās ??
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Iām investing in stocks as well, iām not getting how much is exact tax getting deducted on buying stock ( without selling ) like if i buy Reliance 2 stocks & Infosys 2 stocks what iām getting is a single amount deducted at end of the day ( combination of all share values + taxes ). Is there a way to check individual breakup of invested amount n tax deducted separately ā¦
Also i saw this Brokerage calculator ā Zerodha , does the values match with this if i do just buy 2 shares & Sell 0 in this ?? -
I have one Sip in paused state. Should i delete it to avoid getting recreated on July 1st??
We are about to reach the last weekend before July 1, @Bhuvan @ShubhS9 if you guys can clearly state the what-to-do part after July 1.
We will take the time to understand and act accordingly before July hits.
So many people are waiting for you to open up, awaiting your reply.
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Sir,
I change my bank account now. After july when i redeemed fund directly go to bank or trading account.
When fund transfer to bank, my new changing bank was updated in folio or not.
The biggest change will be that youāll have to use external payments. Otherwise, features wise, nothing much will change.