I just got a call from Zerodha saying my available balance is negative and I need to add funds before 11.59PM. I was cool with it and dropped the call. Now when I check I have around 15 percent of funds utilised in surplus funds.
When I call that number back it says support is closed at 5.30.
Is there any way I can check how much do I need to add?
@ShubhS9 @Bhuvan @nithin
Tagging many because I do not know whom to contact.
Was about to make a post on this as well.
I received an email & subsequent call that there’s a provisional margin shortfall in my account. But on Kite, it’s showing plus 3 lakhs remaining. So, wanted to know why there’s a discrepancy? And which should I consider as factual? @nithin @ShubhS9 Ticket created : #20220811222448
I too had surplus funds at the time of close but got an email from Zerodha saying that the provisional margin requirement is higher than the margin available in my account.
I think the exchange releases the final margin requirements at 5:30pm, so based upon that there could be a shortfall but I’m guessing that since today is settlement day, it should not be a problem.
Yes. But in app it’s still not updated. And margin increases by more than 15 percent on adjustments? Then how much do we utilise 10 percent of the funds and keep 90 percent idle. ??
Somebody told you this? Or u are guessing ?
I’m just interpreting from your statements, since you had 14% free margin and yet got a margin shortfall notice.
Correct that there’s a 5:30 pm update but there wasn’t any big movement post 2 pm. Nifty stayed in a 40 point range, which is more than enough, so not sure how the account has gone negative, that too, for so many people…
None of the other accounts that I have got margin call. And there I have around 9 percent surplus.
Further, mark to market was positive. Plus my pledged securities value also increased.
same issue for me too
I had about 2.5% free margin but i’m not planning to add any funds. Usually, the margins are released and updated in the ledger before 11:59pm.
I guess this is due to :
Letting weekly options expire worthless and holding monthly positions. margins till 3.30 pm will be lower as its a hedged position and shoot up later when exchanges upload the final file. Thereby creating margin shortfall.
@Jason_Castelino @SachinSingh is this the case with u guys?
Not really. I did not leave any contract to expire.
We get a peak margin snapshot of every client’s margin requirement from the exchange multiple times during the day.
We get the account balance of the client and send this email/SMS out if there is a margin shortfall from the peak margin captured in the exchange files so that you can add funds and avoid the margin penalties.
The reason for the peak margin to be captured can be:
There isn’t peak margin penalty with effect from 1st August right. And now at the end of the day I have enough balance. So how can penalty be charged.
Having said that I didn’t do any of the 3 things that you have mentioned.
Point 2 is possible since I wouldn’t know.
Can you DM me your client ID or a support ticket number(if you’ve logged one), I can check and get back to you with the specifics.
I haven’t raised a ticket because I know I never get answers there.
I can share my client ID in private.
@MohammedFaisal, can you do the same in my case too? Ticket already created: #20220811222448
Would help in taking positions in future…
