Zerodha: RMS margin exceeds in CNC order with enough cash

Hi, here is the scenario. I have 16000 hard cash in my account. It shows properly in the cash position window in Pi under ‘free cash’. I wanted to buy 10 shares of yesbank (trades around 830 per share) in CNC order. But it gives me the error saying “RMS margin exceeds ; required 18,xxx, have 16,xxx.”

I suppose if I have enough cash in my account, I can buy as many shares as the amount of cash can buy (margin: 1x). I am not trying to buy 100 shares of yesbank, only 10, which actually costs only 8300. I should be able to buy almost 20 shares, but the system is not allowing this. Can you clarify this please?

Also, please note, this is a cash and carry order.

Second thing, as I am unable to buy 10 shares, I bought 5 shares, but it immediately took my cash balance to less than 2000. How come? 16000-8300 can never be less than 2000. Why is this happening?


Can anyone reply on this and help me as well?

@janusalex, Do check open orders which could be blocking additional margin. If you want to take a new position, you may have to first cancel any open order to release as much margin as required and then take a new position.