Announcements

As per SEBI’s latest circular, the deadline for discontinuing common fund wallet (pool account) for Stocks and Mutual Funds transactions has been extended from 1st April 2022 to 1st July 2022.

What does this mean?
Currently, you can invest in a Mutual Fund via funds from your Upstox account. And on redemption/sale of units the funds would be credited to your Upstox account from where you could place a withdrawal request. However, from 1st July 2022 funds for buying/selling Mutual Fund units will be deducted/credited directly from/into your registered bank account.

You can also refer to the SEBI circular.
Due to the above extension, the scheduled maintenance activity from 31st March to 1st April 2022 has now been stopped. And you can continue to place Mutual Funds orders from our platform like before.

1st April 2022 is a settlement holiday on account of the new Financial Year. Due to this, all Equity trades placed on 31st March & 1st April 2022 will reflect in your account on 5th April 2022.

To help you understand what this means, we’ve simplified the details below.

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+2 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.

What will be the impact of the settlement holiday on 1st April 2022?
On account of the settlement holiday on 1st April 2022, note the following impact:

1. All trades placed on 31st March and 1st April in the Equity segment will be settled on Tuesday, 5th April 
2. All trades placed on 31st March in the Derivative segment will be settled on 4th April
3. All shares bought on 31st March will be visible under T1 holdings on the 1st April but you will only be able to sell them on 4th April.
4. The credit bill amount for all segments on 31st March will not be available for trading or withdrawal purposes on 1st April because this amount will be blocked for one day due to the settlement holiday.

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 Gudi Padwa, 2nd April 2022 is a bank holiday. Hence any withdrawal requests placed after 8:00 AM on Friday, 1st April 2022 will be processed on Monday, 4th April 2022.

To know more about our withdrawal request timings, click here

As per a Government of India circular dated 30th March 2022, you need to link your PAN to your Aadhaar before 31st March, 2023 now.

Earlier the deadline for the same was 31st March 2022. However, the government has now extended this deadline to 31st March 2023.

If you do not link your PAN to your Aadhaar before this date, you may not be allowed to trade from 1st April, 2023 onwards and your PAN shall be considered as invalid.

We have now unblocked your account and you can now access it for trades and investments,

To link your PAN to your Aadhaar card, visit Income Tax Portal

Steps on linking PAN to Aadhaar: Link Aadhaar User Manual | Income Tax Department 

Tap here to know more: NSE

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 Stocks and Mutual Funds transactions will be discontinued.

What does this mean?
Earlier you could invest in a Mutual Fund via funds in your Upstox account. And on redemption/sale of units the funds would be credited to your Upstox account 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?

Due to the above change keep the following pointers in mind -

• You can continue to invest in Mutual Funds from the Upstox mobile and web platforms
• You can continue to use your Upstox account for investing and trading in Stocks, F&O, Commodity and Currency segments
•  A DP (Depository Participant) charge of ₹20 is applicable on redemption of Mutual Fund units. This will be deducted from your Upstox wallet
  and not from your bank account. So ensure you have sufficient funds to successfully redeem your units.
• To comply with this change, we will be conducting a maintenance activity on our platform from 2:30 PM on 31st March to 10:00 PM on 1st April 2022. As a result, during this time you will not be able to buy/sell any Mutual Fund units. Existing SIP transactions will remain unimpacted during this time.

To know more, refer to the circular here.