Your funds, if any, will be settled to your Registered Primary Bank account.
As per SEBI circular with Reference no SEBI/HO/MIRSD/DOP/P/CIR/2021/577
dated June 16, 2021, the Trading Members, which refers to Stock brokers such as we, have to return all credit balances of clients who have not traded for 30 calendar days since the last transaction.
We therefore, to comply with this Regulation will be initiating funds settlement of such clients on the 31st day of continuous nil transaction. This process will be carried out on a daily basis to identify clients who have not traded for 30 calendar days since the last transaction. To illustrate, if client 'A' has traded on 5th of August, 2021 and has not traded thereafter till 4th of September, we will then, settle the available balance on 5th of September to A's registered bank account, as per this circular.
If a client doesn't want the funds to be settled, he or she may transact at least once in a month to keep the balances running for trading. The first settlement in accordance with this Regulation will start on 31st August, 2021.
Also, note that, irrespective of the activity, even if transactions are executed, funds will be settled to the registered bank accounts of clients once in a quarter or a month as opted at the time of opening account.
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