Announcements

On Account of Ramadan Eid (Id-Ul-Fitr), Thursday, 11 April 2024 is a Trading Holiday.

Keep the following in mind:

🔸Equity and Derivative markets will be closed on 11 Apr
🔸Commodities market will be open only from 5 PM - 11:30 PM on 11 Apr
🔸Trading will resume on 12 Apr
🔸Standard Fund Withdrawal requests placed after 8 AM on 10 Apr will be processed on 12 Apr
🔸Instant Fund Withdrawal facility will not be available on 11 Apr

On account of Gudi Padwa, 9 Apr 2024 is a settlement holiday . Markets will be  OPEN for Trading and Investing.

Keep the following impact in mind:

• 🔸 Stocks bought on 8 Apr 2024 will not be available for selling on 9 Apr 2024, but will be visible in your holdings
• 🔸 The credit bill for all segments on 8 Apr 2024 will not be available for trading or withdrawal on 9 Apr 2024.
  
• 🔸 Any fund withdrawal requests placed after 8 AM on 8 Apr will be processed on 10 Apr.
  
• 🔸 Withdrawal will not be available on 9 Apr 2024
• 🔸 Currency segment will be closed for trading on this day

Read more:

What’s a settlement holiday?

Settlement holidays are when markets are open but settlement of your trades do not take place as per the usual T+1 cycle because either the depositaries (NSDL and CDSL) are closed or banks are closed on that day.

How does this holiday impact your trades?

Since the settlement date denotes the final transfer of ownership of shares and not the day you made the trade, a holiday in between causes a delay in the final transfer of shares.

You can also check a list of future settlement holidays  here.

If you have any queries, you can raise a ticket on the Upstox Pro Mobile or Desktop app.

As per RBI regulations, trading in currency derivatives is permitted solely for hedging your underlying forex exposure.

If you have such an exposure, please submit your declaration by clicking here: Currency segment declaration.

If we don’t receive your declaration by 3:30 PM today, 4 April 2024, we will have to square-off all existing positions.

Please ignore if you have already squared-off your positions.

As per  SEBI’s circular  on Quarterly Fund Settlement, please keep the following in mind -

Any funds in your Upstox account that haven't been utilized will be returned to your registered bank account by Saturday, 6 April 2024.

What you should do:

• 🔹 To ensure you are able to trade on Monday, 8 April 2024, please add funds to your Upstox account in advance, as your account balance may be zero on that day. Know more: How can I transfer funds?

• 🔹 If you're using NEFT/RTGS, please add Upstox as a beneficiary at least 24 hours in advance, ideally by Friday, 6 April. Below are the beneficiary details:

For Equity, F&O, or Currency trading:

• - Bank Name: HDFC Bank
• - Account Name: Upstox Securities Pvt Ltd - USCNB A/C
• - Account Number: 57500001411011
• - Account Type: Current Account
• - IFSC Code: HDFC0000060

For Commodity trading:

• - Bank: HDFC Bank
• - Account Name: RKSV Commodities India Pvt. Ltd.
• - Account Number: 15770340022236
• - Account Type: Current Account
• - IFSC Code: HDFC0000060

Due to the high volume of transactions on this day, there might be a delay in receiving your funds. Rest assured, you should receive your funds within two working days and this process won't affect your current orders, holdings, or positions.

We hope this helps you plan your trades better!

We have an important update regarding a circular issued by the RBI on 5 January 2024.

As per the circular, Indian residents are allowed to participate in currency derivative trading on Exchanges only for the purpose of hedging.

Hedging here refers to protecting against potential losses from currency fluctuations that arise from international transactions, which are allowed under the Foreign Exchange Management Act (FEMA) of 1999 and its associated rules. These transactions could be planned for the future or might have already occurred.

Keep in mind

• No fresh position shall be permitted in currency derivatives from 3 April 2024
• All open positions need to be closed or shall be squared off by us by 4 April 2024 EOD

For your reference, please refer to the circular here: bit.ly/3U2m2Dx