For now, you’ll have to unpledge, wait and then sell. By mid or by last week of September, we’ll allow you to sell them without the need to unpledge.
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We’ve been trying to upload the files since morning, depository systems will allow only from 10.30. We’ll upload as soon as the window is opened.
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Hello @VenuMadhav,
If I have 100 NiftyBees pledged and 200 are in my demat .
If I want to pledge all 300 into new pledge system . So do I need to pledge 2 times or all NiftyBees can be done at a time when email comes ??
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We will setup pledge for 100. You can setup from console for 200. Your request will be processed on Monday at 2 pm.
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Update: 29th August 11.19 AM
We’ve initiated the process of transferring all pledged stocks back to client account after which we’ll initiate a pledge.
The payouts should get processed in an hour, the pledge will be setup post that.
You can all expect to receive the emails to authorize the pledge around 12:30-12:45 pm. You will have time until 7.30 - 8.00 pm to authorize the pledge. We’ll send an email out too informing you of the same.
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Is haircut percentage also getting changed. As previously bankbees was around 20% now seeing it has been increased to 40%
Also will we receive the new pledge request from zerodha for existing pledge in next 2 days
Can ignore the above point as missed the above update but please update on changes in haircut
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Update: 29th August 12:18 PM
Files are getting processed slower than usual, this could be in light of many brokers initiating such requests. 60% of the shares have been transferred back. Once the other 40% is done, we’ll setup the pledge. Expected time of receiving email from CDSL for pledge: 2:00 pm. You will still have time until 8.00 pm to authorize pledge.
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@nithin @siva-reddy @VenuMadhav I have not received any email from Zerodha but received an email from CDSL. When I entered by PAN, it says “Margin Pledge set-up is not present for this PAN”. Neither have the pledges under the old system been unpledged, nor have the holdings moved to my demat account. Either you all are yourself unclear of what’s going on, or you are unable to communicate the process clearly, which is why this forum is flooded with queries.
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- Zerodha will set up repledge for non POA clients also?
- For non POA clients pledge limit of Rs. 2 lakh per stock/ fund and total of Rs. 10 lakh per day will be applicable in new system?
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Yes, all shares accepted as pledge will be repledged to CC
No
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Amit, the shares are in the process of being credited back. Please follow my update one post above. I don’t know what email you’ve received from CDSL. Would you be able to DM/upload a screenshot here after hiding sensitive data?
Once the pledge is setup, you can visit this page: :: Central Depository Services (India) Limited :: , enter your PAN and authorize the pledge. Once the pledge is setup, Zerodha will send you an email, I suggest you wait until then. This will happen by 2.00 pm.
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Update: 29th August 1:08 PM
- Shares have been transferred to client account
- Pledge has been setup
- You’ll receive an email from Zerodha in the next 20-30 minutes informing the same
- You can however visit this link: :: Central Depository Services (India) Limited ::, enter your PAN, view the list of stocks for which pledge has been setup and authorize them after generating the OTP
- Once OTP is entered, the pledge is setup in favour of Zerodha, you’ll get margins from Monday
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@VenuMadhav i received link but it’s showing some error occurred in sending otp,should I try again after someu
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Does OTP takes time to come.
Is anyone facing same thing while trying to generate OTP via CDSL link
I guess zerodha is causing load on CDSL api… By sending so many new pledge request…
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This is beyond our control, we’ve escalated this to CDSL. I tried on my account and I’m getting the same error:
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Getting this error after entering the OTP.
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