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#1
31st January 2008, 08:57 PM
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Info needed on funds transfer
Hi friends
Today was my first day at online trading with Geojit. Over there, you have an option to block your funds from your bank account, and trade online. Then, they show you a balance of the amount of investment that can be carried out in Cash segment and the F&O segment. While the amount blocked from the bank account is reflected properly in the Cash segment and I'm able to trade as well, they show a strange figure in case of F&O. Let me state my experience to explain better. This morning, I transferred Rs. 1400 from my bank account to Geojit's account. I was able to trade with it, and I sold off all the stocks before the day's close, and after deduction of brokerage, etc., Rs. 1432 are left with me in the cash balance available for trade. But in case of F&O, they are showing a negative balance of Rs. 4582, though I haven't even touched F&O. Can somebody please explain what is the basis of this? Is this ok and will be cleared next morning when the funds get unblocked and are transferred to the bank, or do I need to dosomething else to get it rectified? Eagerly awaiting a response... Thanking You Ali 
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