New Account Settlement System
On 1st October, 2022, the new account settlement system for the stock broking industry became operational.
Settlement of Accounts
- The market regulator mandates stockbrokers to settle i.e., transfer the available credit balance from trading account to bank account, at least once in a quarter (90 days) or 30 days.
- The process of transferring the unutilised funds back into the bank account is called ‘Running Account Settlement’ or ‘Quarterly Settlement of Funds’ and the funds are transferred back to the primary bank account of the customer that is linked to the trading account.
About New Account Settlement System
- Under the new guidelines, ....
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