Migration from old pledge to the new pledge mechanism

Trading Announcements
42

@siva @VenuMadhav please upload the list of securities and mutual fund was accepted to pledge

1 Like
43

Will do over this weekend.

2 Likes
44

Just curious. has anyone successfully migrated to the new pledge system yesterday. I could not find anyone who has said so in yesterday’s process. So asked :ok_man:

4 Likes
45

I have not pledged anything in the OLD yet after my last unpledge, waiting for new system to go Live, will ppl like me who dont have anything pledged get a mail, if not how should we pledge? @siva @venu

2 Likes
46

We’ll do it.

1 Like
47

From today it will be new pledge, you can go and pledge.

1 Like
48

Please confirm new pledge system is live now and we can create new pledge.
@siva @Venu

1 Like
50

For new pledge, the 2 lakh limit is still there.
It was told that there wont be any limit in the new system.
image

1 Like
51

@siva

Today I placed a new pledge through Console.
The next screen asked me the CDSL TPIN, which I submitted.

Now in Console, it’s showing my stock as “Pending qty. for pledge”, just like what it was in old system.
I have NOT received any Link or OTP from CDSL by SMS or E-mail. Will I receive it after some time today?

Or have I pledged in the old system?

2 Likes
52

Same Query @VenuMadhav @siva

1 Like
53

We’ll process it in batches, you’ll receive it around 3 pm.

1 Like
54

Will be removed.

1 Like
55

Thanks @VenuMadhav , I was able to create a pledge request for more than 2L now. I will await the email later today to complete the process.

2 Likes
56

Yes, it worked now. That was quick!
Thanks @VenuMadhav,

1 Like
57

@VenuMadhav

I have not received any SMS or Email. Checked twice.
So will have to wait for email, right?

1 Like
58

Yes, wait for Zerodha’s email that states that we’ve unpledged, moved the shares to your demat and then setup a pledge in the new system.

1 Like
59

Will we get SMS as well? SMS is more suitable way of alerting.

2 Likes
60

I pledged my shares now.

What will be the process ahead?

I will get the CDSL Link by evening or in next 2 days and as soon as i authorize the pledge, the process will be completed, am i correct?

2 Likes
62

Let me summarize it:

For clients who have pledged under the old scheme:

  • Shares will be unpledged and transferred back to client’s demat account
  • An email will be sent by Zerodha indicating such transfer
  • Zerodha will setup a pledge for the same stocks that clients had pledged earlier and now are transferred back
  • When Zerodha sets up a pledge, client will receive an email from CDSL with a link
  • Client to visit the link, enter his PAN and then the OTP to authorize the pledge from his side
  • Once he authorizes, pledge is setup under new scheme

For clients who are creating new pledge request:

  • Clients will login to Console and place a pledge request as usual
  • Once pledge is requested, Zerodha will setup a pledge in batches . Until 1st September pledge will be processed at 2.00 pm and 5.00 pm. Post that we will do it every 1.5 hours.
  • Once Zerodha sets up the pledge, client will receive an email from CDSL
  • Rest of the process is as explained in the first part of the response above.

Here’s a support article explaining the same in detail: https://support.zerodha.com/category/console/portfolio/articles/new-pledge

4 Likes
63

But this article says that the link will be sent in the evening?

Same, here it says 8 pm. If there’s a delay & we only have till 7 pm, then that’s cutting it a bit short. Can it be extended at least till 8 pm?

1 Like