Revision in Pay-out Timings
This is further to the SEBI Circular SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/84 dated June 08, 2023 mandating the upstreaming of all client funds received by every stock brokers to the Clearing Corporations (CCs). Consequently, client funds will have to compulsorily upstreamed to the Clearing Corporation before a stipulated cut-off time and release requests received from the clients are to be accepted before client release request cut off time.
In view of the above circular, starting 30th June 2023, there would be a change in the timings of pay-outs which you are requested to kindly note:
- Pay out requests from clients will be accepted only till 3.30 p.m.
- Pay out will now be effected only once during the day i.e. at 4.30 p.m.
- Pay out requests from the Clients received after the cut off time of 3.30 p.m. will be released on the next working day
- No pay out will happen on Saturday.
- Pay out requests received after the cut off time on Friday will be processed only on Monday at 4.30 p.m.
Kindly note that the above changes are in adherence to the above SEBI circular and hence no requests for fund pay out from clients will be entertained which is not in compliance to the timelines above.
5paisa Customer Support Team