1. What is delayed Payment?
Delayed payment means that your wallet or ledger maintained with Upstox is in debit or has a negative balance.
2. Are there any charges on delayed payment?
Yes, interest is charged at a rate of 0.05% per day on such delayed payment/ negative balances.
3. Is there any other action that may be taken by Upstox?
If your ledger remains negative for more than 5 trading days, Upstox's Risk Management System (RMS) will initiate necessary actions. These actions are prioritised as follows:
- Any security pledged under CUSPA shall be squared off first
- Collaterals pledged shall be squared off next
- Open position, if any shall be squared off lastly
The priorities provided above are indicative in nature. Upstox RMS, based on market conditions, reserves the right to square off any of the above position(s) as deemed fit.
4. How to avoid interest and RMS actions?
To avoid interest charges and RMS actions, it's essential to maintain a positive balance in your ledger or wallet.
5. Where shall the charges reflect?
The interest charges will appear in your ledger report. Additionally, you can access a separate report specifically for charges related to delayed payment under: Reports ➡️Interest Charged ➡️Delayed Payment.