Migration from old pledge to the new pledge mechanism

Hey @Anki, you’ll not be able to redeem your liquid funds without unpledging it first. If you’ve not already placed an unpledge request, can you please place one now on Console? We’ll be processing the unpledge requests at 2 PM today. You should be able to redeem tomorrow.

Hope they are now processed and successful at 2 Pm today. Please confirm,

Do we get any confirmation email on successful unpledge?

Please confirm @Nakul. Have they been processed today?

The unpledge requests are processed from our end. It’s pending at the clearing corp’s level for the securities to be released from pledge. This should happen by 6 PM. I’ll give you an update here again after 6 PM.

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Hi @Nakul , even I had some missing shares from the old pledge which were not credited to my demat since last 1 week and neither are they appearing in the console. I have raised a ticket already but the response is that it’s stuck with clearing corporation. When can we expect the clearing of those shares?

@Nakul

I had requested for unpledging on console and thought it had gone through at 2pm as per your message above but received the following message from your team:

Thank you for writing to Zerodha.

Your unpledge request placed could not been processed due to an issue at the depositories and clearing corporation in light of the implementation of the new pledge process. The unpledged securities have not yet been released from pledge in your demat account.

We are following up with the depository and the clearing corporation to have this issue fixed at the earliest. We regret the inconvenience caused.

We’re trying to get this processed as well from the clearing corp. However, this might take a day or two more. We’ll keep you posted. Apologies for the inconvenience.

Can you please DM me your ticket number? I’ll have this checked.

Please let know @Nakul

@Nakul please check ur DM

Im not sure whats going on my unpledge request which was placed yesterday on console shows non existent.

When Im trying to put pledge request again its saying failed and saying there is an unpledge request already in the system.

Overall very confusing and unclear

Please confirm.

The unpledge requests are processed and the securities have been released by the CC for most of the clients. We see that few instructions are still pending and some have failed. We’re expecting these to be cleared off too in some time. In case you are one of the clients for whom the securities have been released from pledge, you’ll see these holdings on Kite tomorrow and you’ll be able to sell them if you wish to.

@siva @nakul i unpledge gold bees on wednesday morning 8 o clock still icannot see in the kite holding , i am unable to sell those qty , in two days the gold price fall then i want to sell in loss , all your problem you are putting in clients head only ,
if we receive margin call you will square off the holding or we need to take action , if anything clients facing problem you will tell its depositry problem an so on ,

i want to sold the gold bees in profit , if today the gold price fall you (Zerodha) or depository will bear the loss

Do some thing as soon as possible
i already raise a ticket please follow up 20200911530206

You people giving more pressure :japanese_ogre: us then market movement

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@siva i know you will not reply because the problem are in your side always

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Give us sometime, team is checking.

Hey @TradeB2B, we had tried processing your unpledge request on Wednesday but it wasn’t accepted at the clearing corporation. We’re having it checked. We’ve replied to your ticket with more information. Since you’ve already placed another unpledge request for today, we’ll have this processed. We’ll let you know once it is successfully done.

Hi @siva,

I am trying to pledge the MF which I purchased through Coin.

There is no pledge option when I check the console.

image

Can you please assist?

Thanks

@Nakul ok thanks please

I had done a fresh pledge of HDFC overnight fund yesterday using the new system with cdsl otp etc but zerodha has not yet provided me margin. Is your system not working? @siva I’ve already raised a support ticket.

@Nakul I see “NIPPON INDIA MONEY MARKET FUND - DIRECT PLAN MONTHLY DIVIDEND PLAN REINVESTMENT” in the list of approved securities, but not the “GROWTH” version of the same.
Similarly, “GROWTH” versions of a few other funds are absent while their “dividend/dividend reinvestment” plans are eligible as collateral.

Any plans to include the “growth” versions of such MFs in the eligible list for collateral?

also few of the “regular” versions are available as collateral, but not their “Direct” versions.
eg. “SBI MAGNUM GILT FUND REGULAR GROWTH” is available but not its “Direct” version