What is this - today my gsec was unppledge 9000 qty - see suddenly you are unpledging how we can manage our position - i have lot of position in my portfolio - now my account is in negative balance - how can i adjust , its very diffcult and confuse also
you want to give 3 week before instruction - if you send on morning mail what can we do tell me
it is very diffcult to sell also gsec - i dint have hope to hold Bloddy Gsec any more
see my negative balance
@nithin zerodha need some help in this matter in future - suddenly if you doing such things is not acceptable - we are in the platform for doing business - not to gamble - you people are forcing us to square off - -
how can bring this much cash immediately -
This is very very concerning. Though I am not directly impacted by it at the moment, I can see how badly it can affect oneâs portfolio with no way out. Astute investors/traders would have taken G-Secs to have collateral margin and avoid day to day dealings / fluctuations with this very issue in stocks, ETFs and mutual funds.
The only reason to remove G-Secs from the collateral list can be -
The security is maturing.
Indian government is defaulting.
And I am very sure neither of it is true. So if criteria is changed and changed such that CC is no longer able to accomodate these G-Secs, criteria should be changed again to fit them in. Otherwise, such sudden change on something that is so important underlying - creates a much wider issue.
@abhiwin123 ya why CC is doing such things is dont know , even my maturity is 2040 - see i have 10 lakhs unpledged by zerodha yesterday - today really i face diffcult - even is same situation like nifty hit lower circuit - that kind of feeling i have today
The issue that happened here was that CC removed these securities via the 20th Feb 2024 circular (circular link - Annexure 4, applicable from 1st March 2024 onwards). Once the team did a reconciliation for changes done in securities that were no longer allowed to be pledged, we sent an email communication informing all the impacted clients about this change on 23rd Feb 2024. As we had a short window available to us, hence we couldnât inform 3-4 weeks in advance how we usually do in case of maturity of G-Secs. This morning (1st March 2024), we again sent another email communication to the clients who still had these securities pledged informing them about this change. Will re-look into this process and see how we can improve this further.
We still havenât figured which specific criteria was violated which lead to CCIL removing these and subsequently NCL also removing these. @Bhuvan is actively following up for this.
@Prayag not all people seeing email everyday , this is GSEC - maturity related unpledging that is ok - we are monitioring -
Removing pledge list from GSEC for what reason i dont know -
Informing client need to be improved other then Email that is most important for zerodha - like pop up message in kite window itself - you need to send message - are seperate window in kite need to be included
everybody will see kite on dailybasic , not all will see emails every day - lot of emails are coming to our inbox - finding those emails also diffcult
@Prayag@Bhuvan
Will these Gsecs be re-added into the collateral list again in the coming days? These contribute a significant amount to my familyâs portfolio and it will involve significant slippages to rebalance them with the current spread.
Requesting more clarity on the reasons why they were removed from the list and are there any other Gsecs which can be impacted due to this in the near future?
And would be nice to understand the criteria followed to remove them from the pledge list.
Understood. And it does make sense on their part. Though it is just sad that we donât have liquidity in GSecs in Indian markets and missing transparency in the criteria of selection for the same.
I guess this calls for another level of Nudge - at the time of buying / pledging GSecs.
