New Running Account Settlement Rule - Single day for clients of all stockbrokers in India

Funds processed on 7th Oct, yet to be credited to bank.

Two days passed, amount not credited. If banks cannot handle there should be penalty for holding money.

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rules like T+1 settlement, margin changes all got introduced in phased manner.
However, MF purchases via bank direct, Settlement etc just thrown at the current system without even testing.
I wonder who is behind this wisdom.

In the name of safety of retailers, they should take away all our electronic devices and various accounts and handle it themselves :rofl: one day they’ll cage us in the name of safety.

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Sad man ,till now after 2days we are yet to recieve our own fund… Atleast a message from your end should have ease us.

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Sir my client id WLJ961 i haven’t received my quaterly settlement amount. Pls check. I have raised a ticket also.

My client id is GE2433. I am yet to receive the fund in my Bank Account…

For everyone following this thread:

We have spent the last weekend reconciling transaction records with our bank. The clients who have not received credit fall in one of these categories:

  1. The customer’s bank details mapped with us are not correct. For some banks, IFSCs were changed after the bank underwent a merger. Transactions to these customers failed. We will send communication to these customers once we have the list from our bank. Read more.

  2. The customer’s account is blocked by their bank due to kyc or compliance reasons.

  3. Process rate limiting at our bank. Once transactions were sent from us to our bank, they failed in their systems. Most of the customers who are facing delay will fall in this list.

We expect to complete the reconciliation and re-push the transactions during the day today. Sending fresh instructions to the bank without completing reconciliation puts us in the risk of making duplicate payments to the same customers.

P.S. Since these transactions are already sent to bank, posting them back on the ledger is also not possible. We are sorry for the inconvenience faced.

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My Account is in SBI so why is it not been credited - Client ID GR0466

Bro… You missed to add that same old promise in your explanation today… Settlement by EOD​:joy::joy::joy:… Your explanation assures trading holiday for me, for at least one week. Why don’t you ask SEBI to announce default trading holiday for a week during next settlement??

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@mohitmehra This is one more scenario

Exactly, Instead of all this circus take 8% on Netbanking charges and give commission to SEBI.

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Yeah, I haven’t received any sort of retention email either. My account also usually gets settled using the 225 % rule…

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Yes, soon we have to trade on exchange floor, back to the old days.

Its been more than 10 mins. Can’t see the fund added to Zerodha from IMPS… its now all backed up…

My bank is ICICI bank. I haven’t received settlement amount yet.

It’s been three days, funds not received yet. ID GPX525

Funds have gone kaput.

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I got a notification on my phone from Kite app saying that the settlement is pending from their bank itself and doesn’t have to do anything from our (customer’s) side and the transaction will be reprocessed today

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Hi Mohit ,

Please check my account urgently - GUR 478 , Quarterly Settlement Funds still not received in my mapped HDFC Account ? , I am not able to trade today , please get this checked urgently - Your support ticket #20221010542769

This is urgent !

GN9125. Settlement funds not yet received in my bank account.

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Hello Mohit,
Any new ETA ? My Client Code is GS2003. Could you please get it checked?