As per SEBI guidelines, stockbrokers are required to settle clients' ledger account once in a quarter. The guideline is applicable from 1st October 2022.
Considering the guidelines, unutilized amount available in your ledger at the End of the day (EOD) as on the date of settlement across all the exchanges will be transferred to your primary linked bank account on the first Friday of every quarter. Starting from October 2022, January 2023, April 2023, July 2023 and so on for all the clients. If the first Friday is a trading holiday, then such settlement will happen on the previous trading day.
You will be notified by m.Stock with an email communication on your registered email ID stating your balance transferred to your bank account.
If your m.Stock balance is nil/in debit, then in this scenario, you will still receive communication from m.Stock in the form of a Retention Statement to keep you informed about the status of your ledger account.
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