@Neelesh Can STP be expected before end of this year?
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Yes it will be liv soon.
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Thanks for SWP, is there an option to increase the withdrawal amount every year instead of fixed amount in SWP? for example, this year I am withdrawing 10k per month, for next year I want to increase it by 10% (11k) and so on.
Step up is not available in swp, you can instead use the modification option whenever you want to change the amount.
Any update on STP availability?
very HIGH time to roll out STP now. Have been waiting for more than 5 years, when I first wrote about it in the forum.
Now it is impacting my strategic decision (evolved around these years) and the kind of amount being invested now.
@Neelesh, can you please put some light on its availability ??
cc: @nithin
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Hi @akashtripathi another few weeks and this feature should be live. We will be soon live with UPI autopay, post which we will roll out STP.
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I have a confusion as to how STP would work in demat mode.
In folio, STP would trigger sell and buy of fund without any money crediting/debiting the primary bank account linked.
For demat, Will there be credits and debits happening in Linked bank account too?
where can I download my coin transaction tradebook?
Hi Neelesh can you please share when wil STP be live?
Also how will it be implemented concept? Is it straight forward stp or some different way?
Also recently seen in news that brokers can invest money in over night funds will stp be also allowing equity to overnight or between any 2 equity also loke small cap toa large cap?
@Neelesh @ShubhS9 I see differing information on daily limit of Mandates in the below links
First link says the daily limit is 1 crore and the 2nd link says it is 1 lakh.
Which one is correct?
Earlier it was Rs. 1 lac, but enhanced to Rs. 1 crore recently. You can check BSE circular here.
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Understood. But Coin still does NOT allow me to create an SIP exceeding 1 Lakh even though the mandate I’m using to create that sip has a limit of 1 Crore (note: this is a mandate I just created which clearly shows the limit as 1 crore).
Here is the error: “Error placing sip order: Maximum per day limit of 1 lakh rupees reached for this mandate, please create a fresh mandate and map.”
However, if I create an SIP for 1 Lakh initially and then try to modify it to say 2 Lakhs, Coin no longer throws any error and happily accepts the change.
I wonder what is going on here. This is inconsistent behavior from Coin.
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Thanks @ShubhS9.
Can you confirm if Coin now supports SIPs of more than 1 Lakh a day using a single mandate? And the error that I got is just a bug in the system that you will fix?
Whatever new mandates you create on Coin are capped to a max limit of 1cr now but the creation of the new SIP will be at 1 lakh only. We have not removed the backend restriction yet as we will have to manage the mapping of the old mandates.
This restriction will be removed in the coming weeks, meanwhile, you can create a mandate for up to 1cr, create a sip for 1k and later modify it from the coin web to whatever amount you have up to 1cr and it will show up like this on Coin. This limitation will be removed soon.
@Neelesh - Can you clarify on this? Will there be a credit/debit in banking account too for STP? Or the transaction will happen only in the demat account and the clearing corporation directly
There will be a credit and debit in the bank account. We will be allowing inter amc stp. In the current scenarios you can do a stp from one fund of the amc to another fund of the same amc and the tax charges etc will be applicable. Similarly we will be allowing the same but in this mechanism the credit and debit will happen from the bank account as the units you hold with us are in a demat mode.
will STP be online within a month?