What’s The Offline Mechanism For Pledging And Unpledging Of Shares?

A circular released by SEBI added a few additional steps to the pledging process with the objective of protecting the investors. As per the new pledge system, the shares will be blocked in the clients’ Demat Accounts.

The Pledging process is now divided into two parts:

• Send a pledge request via your RMoney online back office 
• Once the request has been received the process will be initiated by our executives.
• You will receive an email and SMS for approval from NSDL. You need to then authorize your pledging request
• You can easily check and approve your pending pleading request directly on the NSDL portal

Note:

• If your pledge request is received by 5 PM it will be processed on the same day. In case the OTP process is completed by you by 7 PM you’ll get the collaterals the following day for trading. If it is delayed beyond 7 PM the collateral benefits will be given to you for the day after.
• In case the pledge request is not approved via NSDL OTP it will be canceled after 9 PM. The client in this case will be required to raise a fresh request.
• No need to un-pledge shares first if the client wants to sell delivery. Once sold shares will be auto un-pledged and marked for payin.