Announcements

Starting from 12th January 2023, any Standard Withdrawal Request placed after 8 AM on a Friday, will be processed on a Monday. If Monday is a trading holiday it will be processed on the next trading day.

What does this mean?

To transfer funds from your trading account to your registered bank account linked with Upstox, you need to place a Standard Withdrawal request or an Instant Withdrawal request on our platform. Earlier, if you placed a Standard Withdrawal request after 8 AM on a Friday, your funds would get transferred to your registered bank account by 3 PM on Saturday if it was a working Saturday. However, now any Standard Withdrawal request placed after 8 AM on Friday will be processed by 3 PM on Monday.

This means you’ll receive your funds in your registered bank account by 3 PM on Monday. If Monday happens to be a trading holiday, you’ll get your funds on the next trading day.

Why has this change come into effect?

As per a recent SEBI circular dated 20th July 2021, SEBI has introduced a mechanism wherein brokers in addition to depositing clients money with Exchange/Clearing Corporation (CC), are also required to allocate the funds to the respective clients at the Exchange/CC. This circular will ensure that client funds are not misused in any way.

As the second phase of this circular comes into effect, your funds will be deposited and allocated to the Exchange/CC on a real time basis. And since the Exchange/CC are non functional on Saturday we will be unable to deallocate your funds and withdraw it from the CC/ Exchange to meet your withdrawals on weekends.

What should you do, if you need funds earlier?

If you need your funds earlier you have the option to place an Instant Withdrawal request on any trading day between 10 AM to 6 PM. By placing an Instant Withdrawal request, funds will be transferred from your Upstox account into your registered bank account within 15 minutes. 

For placing an Instant Withdrawal request, keep the following in mind →

-Through Instant Withdrawal, you can withdraw anywhere between ₹100 up to ₹2 lakhs per day 

-Ensure that the IMPS mode is active on your bank account

-Used margin is the total amount that you have utilised against any open or closed positions and it needs to be zero.

-Positions that are still open and not squared off should be exited before placing an instant withdrawal request

-Instant Withdrawal is only available on trading days.

As per this, what’s the Standard Withdrawal TAT for all days?

For further help, kindly refer to our help centre article here:

How can I withdraw funds from my Upstox account?

As per SEBI’s latest circular, all brokers need to settle accounts of all clients on the first Friday of every quarter i.e. October 2022, January 2023, April 2023, July 2023 and so on. If the first Friday is a trading holiday, then such settlement shall happen on the previous trading day.

What does this mean?
This means, all unutilised funds from your Upstox account will be transferred back to your registered bank account by Friday, 6th January EOD

How will this impact you?

-This will have no impact on your existing orders, holdings or positions 

-All unutilised funds from your Upstox account will be transferred back to your registered bank account by Friday, 6th January EOD

-However, due to the large volume of transactions on Friday, 6th January there might be a delay from the bank in receiving your funds. Don’t worry, in this case you will receive your funds within 2 working days

What should you do?

- For uninterrupted trades, we recommend keeping your Upstox account funded before trading starts on Monday, 9th January 

- You can transfer funds from your registered bank to Upstox via NetBanking, UPI, Google Pay or NEFT/RTGS/IMPS. For more detailed steps, click here: How can I transfer funds?

KEEP IN MIND: If you’re using NEFT/RTGS make sure you add Upstox as a beneficiary 24 hours in advance (by Saturday, 7th January). Beneficiary details are:

For Securities:

Bank Name - HDFC Bank

Account Name - RKSV SECURITIES INDIA PVT.LTD.

Account Number - 00600340067574

Account Type - Current Account

IFSC Code - HDFC0000060

For Commodities:

Bank Name - HDFC Bank

Account Name - RKSV COMMODITIES INDIA PVT.LTD.

Account Number - 15770340022236

Account Type - Current Account

IFSC Code - HDFC0000060

We hope this helps you plan your trades better! 

Fresh orders under MTF will be accepted only for the scrips, listed under F&O. This change will be effective from 30th December 2022 until further notice. Thank you for your patience.

As per SEBI, T+1 settlement cycle is now becoming applicable on all equity stocks.

This is being implemented in a phased manner. The first list of stocks applicable for the T+1 settlement cycle went live from 25th February, 2022. The 11h list of stocks applicable for the T+1 settlement cycle will go live from 30th Dec 2022.

However, to avoid any pay-in shortage due to this change you will not be allowed to sell T1 holdings of the following stocks - https://uptx.to/T1-list
on 30th December 2022. But you will still be able to see them under ‘T1 holdings’.

All ITM Natural Gas option contracts on 23rd December 2022 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.