Finvasia

[Finvasia]

How can a client pledge shares in our demat account? I mean what a client needs to do ? U said if client wants to pledge but what if client never told u to pledge but u still go ahead and pledge and use that money for your own use ..I believe that is what Karvy did ?

So when you pledge liquid bees you are not at risk by broker's default?

Hi @curiousv, After recent SEBI circular, clients need to transfer shares to the Broker CCA account to get margin against stocks/collateral. Only shares which are transferred by the client from their DP a/c to the Broker CCA a/c shall be considered to pledge. Broker cannot directly pledge any shares without client’s prior approval. SEBI assures each client a max total deposit of INR 10 Lakh including cash and any collateral.

Do u know when a broker pledge your shares and give you margin money against your shares or mutual funds ..where do they get funds ..I mean who exactly they give your shares to ? do they give to NBFC or NSCCL or they just use their own money? And lets say they give to NBFC ....what is their incentive in this? do they get any interest or kickback from NBFC?

The broker may pledge these shares in favour of NSCCL and get the additional trading margin which is then passed on to the client. Stocks, Nifty bees can be used for additional margin. Brokers cannot directly pledge the shares to NBFC.

 

[VINODFINANCIAL]

Hi,
I have been trying to reactivate my account but looks like a very time consuming process. Is this usually so long to reactivate accounts at Finvasia?

Thanks

 

[Finvasia]

@Finvasia, Well, I understood the purpose. But why it should do automatically without my knowledge? If I am NOT comfortable with this clause, how can I set it to 'NO'? What is the process to change it?

Hey @Mayyappa, You will have to fill the modification form to change your preference. Please inbox us your client code and we will send the modification form to your registered email ID. Thanks

 

[Finvasia]

I started using NEST 3.16 version.. it doesn't launch Nest plus for me. How can I do that..

Hi @Infooo, NEST Chart is usually activated by default. Kindly inbox us your client code if your query is still unresolved. We will get the IT Support Team to reach out to you. Regards.

 

[Vmaster369]

been 19 days you have not added new bank
Ticket Number: 1585329984752
i did inboxed u same still nothing

 

[neo.mx]

Hi @curiousv, After recent SEBI circular, clients need to transfer shares to the Broker CCA account to get margin against stocks/collateral. Only shares which are transferred by the client from their DP a/c to the Broker CCA a/c shall be considered to pledge. Broker cannot directly pledge any shares without client’s prior approval. SEBI assures each client a max total deposit of INR 10 Lakh including cash and any collateral.



The broker may pledge these shares in favour of NSCCL and get the additional trading margin which is then passed on to the client. Stocks, Nifty bees can be used for additional margin. Brokers cannot directly pledge the shares to NBFC.

What is the procedure to transfer shares to finvasia cca account for pledging?

Is the CCA account of Finvasia same for all clients?

 

[Finvasia]

IMPORTANT NOTICE:
Due to the Crude Oil meltdown in the global markets, MIS, CO and BO orders have been temporarily disabled for Crude Oil.

 

[Finvasia]

been 19 days you have not added new bank
Ticket Number: 1585329984752
i did inboxed u same still nothing

Hi Vmaster! We have been informed that our team reached out to you and addressed the issue. Should you have more question, please reach out to our Live Chat support or email client support. Regards

 

[Finvasia]

What is the procedure to transfer shares to finvasia cca account for pledging?

Hi @neo.mx, you can transfer your holdings for pledging to our CCA via easiest. Here are the steps to transfer:

- Login in easiest.

- Select "Setup" under "Transactions" and click on "Bulk Setup".

- Next, add Execution Date (on which date you want to transfer you shares), they will be reflected in your account after 24 hrs of such), also add Finvasia CCA account - 1208430000076153 and choose the ISIN you want to transfer by clicking on + and then account ISINs, enter Quantity and Reason to trade. Verify it.

- Last, click on "commit" and enter your PIN.

Once transferred, mail us your pledge request.

Is the CCA account of Finvasia same for all clients?

Yes client collateral account (CCA) is same for all clients.

 

[pannet1]

So when you pledge liquid bees you are not at risk by broker's default?

i think instead of cash lying with the broker it is safer. however, broker still can pledge our share for their prop trading, i guess (because we sign power of attorney at the time of opening the demat account)