ET Bureau|Jun 15, 2018, 10.46 AM ISTThe exchange also said that excess securities held with the broker are only for the purpose of meeting margin requirements and not for settlement.
MUMBAI: The BSE on Thursday clarified that excess cash with stock brokers may be considered for off-setting against debit balance to calculate net obligation.The exchange also said that excess securities held with the broker are only for the purpose of meeting margin requirements and not for settlement.
The exchange has advised stock brokers to comply with this requirement.This comes after the exchange received communication from the Securities and Exchange Board of India about references being received from investors saying that the brokers are levying late payment charges for debit balances even though the clients have credit balance with the broker instead of levying the same on the net debit balance.Commenting feature is disabled in your country/region.From Around The WebMore from The TheIndianSubcontinent