We’ve optimized our payout process for our clients to receive payouts sooner than usual. This is for clients who have requested payouts, have sufficient funds and have neither traded nor have any open positions on the payout processing day.
To explain with an example, for stocks sold on a Monday, payout from the Clearing corporation is received on Tuesday. When clients requested payout on Tuesday, their requests would be processed Tuesday night, upon completion of the trade process after which they would receive credits on Wednesday morning.
Going forward, we will process one set of payouts early evening on Tuesday, to ensure clients receive payouts on Tuesday evening itself. However, this will be for clients who have not traded or have any open positions on Tuesday. If someone’s traded/has open positions, we’ll need to verify the clear balance that can be paid out, which can happen only once the trade process is done and the ledger entries are updated.
In addition to this, we’re also working on an instant payout (I know it’s been long overdue), the details of which I’ll update once we’re closer to launching.
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What is the cutoff time for same day payout?
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Isn’t direct ASBA/UPI facility will be implemented in near year for all for trading in secondary Market?
And zerodha ready to launch this ASBA the facility or it will take more time?
@mohitmehra Could you help understand the process on ASBA and the timelines?