How will the settlement be made in my account, in case I have not provided RAA to my broker?
1.In case you have not provided RAA to the Broker, you are required to make payment towards the purchases made latest by T+2 working days.
2.In case of sale transaction, payout towards the same shall be released to you within one working day of payout being received from the Exchanges, subject to margin, dues and charges payable by you to the Broker.
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Does the regulator require the Running Account Authorization (RAA) to be updated?
No. Updation of RAA is not a mandatory requirement. You have an option of not updating RAA. In that case auto payout will be done in your account as soon as you are having credit in your account.
What is Periodic settlement?
1.In case you have given RAA, actual settlement of funds and securities is required to be done at least once in a quarter or once in a month as per the periodicity of settlement selected by you. 2.You can thus, while giving RAA, select the ...
What is Running Account Authorization (RAA)?
Running Account Authorization (RAA) is an authorization given by you to the Broker to maintain funds and securities in your account held with the Broker and not release the same within one working day of the payout from the Exchanges. Based on the ...
How does settlement take place in Commodity?
Daily MTM will be cash-settled by exchange on T+1 basis i.e., next working day after the trading day. However in case of delivery, the settlement date may be five to seven days after the expiry as per contract specifications and Exchange rules. It is ...
Can the application be made in joint names?
Applications may be made in single or joint names (not exceeding three). In the case of joint application, all payments will be made out in favour of the first Applicant. All communications will be addressed to the first named Applicant whose name ...