Comment on Basket Orders - ZT

Nithin Kamath commented on 15 Dec 2014, 01:39 PM

Om, I will find out why our executive didn’t educate you on this. The account balance that you are seeing in that image is from the shares that you have sold on Thursday and friday. All equity settlement in India happens on T+2 day basis, what this means is that if you buy shares on Monday you get the shares credited to your demat on Wednesday evening (T+2 days) and similarly when you sell shares the money gets credited to your account on T+ 2 days from when you sold. So the shares you sold on Thursday, the money will get credited on Monday evening and the ones sold on Friday, will be credited on Tuesday evening. So that money you see is not actually in your account yet, most brokers won’t even show you the credit in your account until after T+2 days. We allow you to trade using the funds, but we can allow you to withdraw only once the credit happens from the exchanges. Hopefully this clarifies.

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