Sequence of events (Rounded of balances for easy readability)
Account balance : 53k
Coin MF purchase places : Rs 10k (before 11 30 AM)
Equity limit BUY orders placed (CNC) :
Rs 20k (before 11 30 AM)
Rs 30k (After 11 30 AM)
All limit orders and the MF purchase went through. My account balance was then -7k and I transferred money as soon as I saw this. The money was credited the next day but I still got charged a Rs 5 penalty due to the negative balance.
My question is, how do I disable the negative balance “feature” on my Zerodha account?
I expect the system to ensure that once funds have blocked by Coin, they should not be usable by Kite. Is this supported by Zerodha?
In my case, I would have preferred the equity order placement to get rejected instead of being charged a penalty