Announcements

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

1 Apr 2024 is a settlement holiday on account of ‘Annual Bank Closing’. Markets will be OPEN for Trading and Investing.


Keep the following impact in mind:

• 🔸 Stocks bought on 28 Mar 2024 will not be available for selling on 1 Apr 2024, but will be visible in your holdings
• 🔸 The credit bill for all segments on 28 Mar 2024 will not be available for trading or withdrawal on 1 Apr 2024
  
• 🔸 Any fund withdrawal requests placed after 8 AM on 28 Mar will be processed on 2 Apr
• 🔸 No withdrawals will be available on 1 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. 

On Account of Good Friday, 29 Mar 2024 is a Trading Holiday. 

Due to this, keep the following impact in mind: 

🔸 Equity, Derivative and Commodities (both session) Markets will be closed on Fri, 29 Mar

🔸 Trading will resume on Mon, 1 Apr

🔸 No fund withdrawals will be processed on 29 Mar

🔸 Standard Fund Withdrawals request placed after 8 AM on 28 Mar will be processed on 2 Apr

All ITM Natural Gas Option contracts on 21st March 2024 will be converted into Futures contracts.

To avoid square-off, ensure that you maintain sufficient margin for the Future contracts before 10.00 PM today.