Announcements

All ITM Crude Oil Option contracts on 15th July 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.

To comply with a recent SEBI mandate on the discontinuation of a pool account for Stock and Mutual Fund related transactions, keep the following in mind:

1. While using UPI payment mode for Mutual Fund investments, if you face 'Contact number required' error, try the NetBanking mode or retry after 2 working days.
2. While using NetBanking payment mode for Mutual Fund investments, if you face an ‘Invalid bank account’ error, try with another bank account.
3. Ignore emails or SMS from BSE which have payment links. Payment should be done on the Upstox portal.

What is the SEBI mandate about?
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.

To learn more, refer to our announcement here: SEBI discontinuation of pool account for Mutual Funds - Upstox

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.

As per NCL circular reference NCL/CMPT/52374 dated 23rd May, 2022 and

NSE circular NSE/FAOP/52732 dated 24th June 2022 note the following updates

• The maturity date of Indian Oil Corporation Limited (IOC) contracts expiring in June 2022 shall be 29th June, 2022. You can refer to the Exchange circular here

• Adjustments in open F&O positions in IOC shall be carried out only for contracts expiring in July 2022 & August 2022. To know more about these adjustments, refer to this circular here

• If you have any open IOC F&O positions with June expiry, physical settlement will be applicable. Provide consent for physical settlement before 28th June 2022 or square of your positions or square off your position(s) before 12 PM on 29th June. Tap here to know more

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 fifth list of stocks applicable for the T+1 settlement cycle will go live from 24th June 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 on 24th June 2022. But you will  still be able to see them under T1 Holdings.