Announcements

As per SEBI circular no. SEBI/HO/IMD/IMD-I DOF5/P/CIR/2021/635 dated 4th October 2021, the usage of a common fund wallet (pool account) for Stock and Mutual Fund related transactions will be discontinued from 1st July 2022.

What does this mean?

Earlier you could invest in Mutual Funds via funds in your Upstox wallet. And on redemption/sale of units, the funds would be credited to your Upstox wallet from where you could place a withdrawal request.

However, as per the above mentioned SEBI circular, while you can invest in a Mutual Fund from the Upstox platform, the funds for buying Mutual Fund units will be deducted directly from your registered bank account. And on redemption of these units they will be credited to your registered bank account.

What to keep in mind?

• To comply with the above mentioned SEBI mandate, there will be a maintenance activity on our platform from 30th June 2022, 2:30 PM to 1st July 2022, 12:00 PM. During this time you will not be able to buy/sell any Mutual Fund units. Existing SIP transactions will remain unimpacted. 

• A DP (Depository Participant) charge of ₹18+ GST is applicable on the redemption of Mutual Fund units. This will be deducted from your Upstox wallet and not from your bank account.  Ensure you have sufficient funds to successfully redeem your units.

To know more, refer to the Exchange circular here.