For clients who have pledged under the old scheme:
Shares will be unpledged and transferred back to client’s demat account
An email will be sent by Zerodha indicating such transfer
Zerodha will setup a pledge for the same stocks that clients had pledged earlier and now are transferred back
When Zerodha sets up a pledge, client will receive an email from CDSL with a link
Client to visit the link, enter his PAN and then the OTP to authorize the pledge from his side
Once he authorizes, pledge is setup under new scheme
For clients who are creating new pledge request:
Clients will login to Console and place a pledge request as usual
Once pledge is requested, Zerodha will setup a pledge in batches. Until 1st September pledge will be processed at 2.00 pm and 5.00 pm. Post that we will do it every 1.5 hours.
Once Zerodha sets up the pledge, client will receive an email from CDSL
Rest of the process is as explained in the first part of the response above.
@VenuMadhav, For people already with pledged holdings:
a) Over the next few days, around what time approximately will the clients be getting the mail with the pledge link?
b) Once we receive the mail, till around what time will we able to do the pledging? The Support Article says 7 pm, but I assume that’s for people with new pledges?
if by some reason person is unable to re- pledge but next trading day sqauress of the position or add funds to extent shortfall amount , will there be penalty charged for one day or not.
We will transfer the stocks back and setup the pledge. When we setup, we’ll do it for all the stocks previously pledged. You can choose to ignore that and setup a new pledge on Monday for your desired list of stocks.
If we ignore the pledge request send by zerodha for existing pledge will the stocks be in our demat account and later we can pledge as per our requirment
I have open position options, margin used is 10 lakh, liquid fund of 10 lakh is pledge in old scheme before 1 August.
Do i need to unpledge and pledge again or u will do it,
Second question do i need to square off all my open position during unpledge and again pledge,
What will happen during time gap of the process to get margin
@VenuMadhav Please update the approved mutual fund scrip and stock by sebi , so we can check which mutual fund is suitable to invest according to haircut , still holding to invest and waiting for your list
I pledged and got the CDSL mail, authorised it using OTP.
In console, it was showing the yellow ‘pending pledge qty’ against the stock/MF.
Now it is not showing it. The full units are still shown as available for pledging.
CDSL shows updated pledge balance.
