If I submit a pledge request for T1 holdings, when will I get the pledged margin?
T1 Holdings will be settled once the payout is received from the exchange, usually around 2 PM. Although the system permits you to a pledge request and authorize it, the status will remain marked as overdue until the T1 Holdings are credited to your account. Upon crediting the shares to your account, the pledge status will update to accepted, and you will be able to access the margin from the following day (T+2). The purpose of accommodating T1 Holdings is to expedite the process, enabling clients to receive margin on T+2 instead of T+3.
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Thanks so much for the clarification!
Someone really thought this through and I really appreciate this.
However, if T1 quantity is pledged, you get the margin and all but on the Pledge holdings page it is always marked as PENDING > FAILURE for that stock. This is even after Kite and Console holdings show it as P quantity. Hence, status never gets updated to ACCEPTED as quoted above. I guess it is only a small issue but someone should get it fixed. Screenshot attached for your reference -
The point of ACCEPTED is in reference to the depository level. In the console, the status gets captured only once during the authorization time. If any status changes at the depository level during a day, it does not get updated in the console. This is due to some restrictions on status updates from the depository. We have already addressed this issue with the depository, and in future updates, it will be fixed.
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If any securities pledged for the day are locked in or at T1 holdings, the immediate status for the pledge request will show as OVERDUE. This indicates that the pledged shares haven’t been delivered to the Demat account or are not freely available for pledging within the specified timeframe, resulting in them being labeled as overdue.
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