We are sending this email to all our customers who have pledged securities, explaining how to migrate pledge from the old system to the new system which is mandated to go live from Sep 1st. So every evening over the next few days we will unpledge securities, credit it back to the demat and send a link to authorize the new pledge. Make sure to act when you get the email so that you will continue to get margin for these stocks on the the next trading day.
In light of the recent regulatory changes in the method of accepting stocks as margins, the stocks that you have pledged with us will be unpledged and moved back to your demat account. We have already initiated a pledge request under the new pledge system for the stocks that have been transferred back. You will have to authorise the pledge by visiting the link that you have received on the registered email ID/mobile number.
Once you’ve clicked on the link, you will be redirected to CDSL’s webpage where you are required to enter your PAN number and generate an OTP that you will have to key in to authorise the pledge. The process is illustrated below:
We request you to carry out this activity before 8.00 PM today in order to ensure that you continue receiving margins against stocks. Failure to authorise the pledge in time may result in unavailability of collateral margins which may in turn lead to positions being squared off and/or penalties charged for lack of margins. We regret having to perform this activity in such a rushed manner, but this was because Market Intermediary Institutions (exchanges, depositories, clearing corporations, etc.) could only implement and support the new pledge system from today.