Does the broker have discretion to levy or waive Intra day margin penalty? It is being levied once in a while. I wish Zerodha nudges, like in many other cases like pending gtt, to let the client know about it. It just facilitates the client though broker is certainly not obliged.
Margin penalty is levied by the exchange not the broker. You can read in detail here.
Zerodha does nudge it’s client’s when margin penalty could be levied. It’s explained in the article here.
About waiver of margin penalty I’m not sure but I’m gonna take a calculated guess and say that it can’t be waived off since the exchange directly levies it.
You can also check this thread for how they are levied.
1 Like
Thanks a lot for the detailed reply. I don’t see any nudge but I get an instant sms alert and email alert on margin shortfall with the usual warning of squaring off positions by RMS team. But placing order for an instrument where I have a GTT order nudges with a pop up/ balloon message. Still will be careful in future after being penalised!
1 Like