Icici direct discontinuation of 80% margin credit on sale of shares on T day

Today, when you sell non-pledged shares lying in your Demat account, you can use 80% of the value of such sold shares to take further positions on T day itself. The entire 100% of the sale proceeds become available from T+1 day onwards.
However, due to regulatory changes , this facility of using 80% of value of the sold non-pledged shares will NOT be made available to you immediately (i.e. on T day) with effect from May 30, 2023. The entire 100% of the sale proceeds will be credited to your account on T+1, which is the normal settlement cycle for Equity segment.

I got the above from Icici Direct. Currently, when I sell, I could use the sale proceeds to buy something else, but it seems this cannot be done in future.

With Icici Direct, we have something called instant ATM, click on a button, when you sell, 80% or so amount will be credited to my bank account in 5 minutes However, this option is only for few select shares, not available for ETFs I guess.

1 Like

i got click-baited :rofl:
maybe you can edit title to say ICICI-…

So is this a ICICI Direct issue or will other brokers follow suit?

Done. But it say it is regulatory changes. I thought it is applicable to all brokers.

Why would icici direct quote regulatory changes and make amendments to the way they settle when there is a sale txn