Okay. But why can’t the quarterly settlement process be initiated on Friday after 3:30 pm (market closure)?
Even if the money is credited to our bank account on Saturday little late, no problem, it’s fine, we have 2 days to send it back to Zerodha trading account and you are ready for Monday morning. You know that investors have GTT setup. This would make sure that investor is mentally at peace and aware that quarterly settlements would happen only on Fridays after market closes.
In @nithin’s words, this is the right thing to do.
I had raised this point on another thread too but there too didn’t get any answer.
Now that from Aug 1, NACH will be 24x7, if you redeem mutual fund units, AMC would transfer redemption amount even on weekends and holidays and the investor won’t have to wait for a bank working day. Now consider this on Coin, AMC would transfer money to the Zerodha trading account on Saturday or Sunday, but will Zerodha allow us to redeem on weekends or holidays? Or make us wait till Monday.
Again, in Nithin’s words, what is the right thing to do here?
Awaiting reply.