Can I redeem the external mutual funds that I’m tracking on Upstox?

No, you cannot redeem your external mutual fund investments via Upstox.

Here’s why:

• Mutual fund investments can either be in Demat mode (via a broker) or Non-Demat mode.
• Mutual funds held in Demat mode cannot be sold through Upstox, as they are stored with your other broker. This is due to various regulatory and operational restrictions.

Example:

To sell mutual funds held in Demat form, you are required to complete CDSL/NSDL authorization, which grants your broker the authority to sell your holdings. Since Upstox does not hold your mutual funds (your other broker does), this authorization cannot be granted to Upstox.

If you wish to redeem your mutual fund investments, you must do so through the platform or broker where they are held. For additional questions, feel free to reach out to our support team.