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Frequently Asked Questions

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Actual Settlement of funds & securities

When does a client account need to be settled?

As per Exchange Circular NSE/INSP/13606 dated December 03, 2009, the settlement of funds and / or securities shall be done within 1 working day of the payout, unless client specifically authorizes the trading member in writing to maintain a running account.Clients whose funds and securities are maintained on a running account basis have to be settled by members on a monthly / quarterly basis as per the client preference.

What should be the periodicity for settlement of client funds and securities?

In case a client wishes to maintain a running account for its funds and securities with the trading member, the client has to authorize the member in writing to retain its funds and securities. Such authorization should also contain:

  • Preference of the client as to whether the settlement of funds and securities should be done on a monthly or quarterly basis
  • A clause stating that the Client may revoke the authorization at any time (i.e. without notice)

Accordingly, the actual settlement of funds and securities shall be done by the member at least once in a calendar quarter or month, depending on the preference of the client.

Which accounts need to be settled?

A member needs to settle the accounts of all clients who have opted for maintenance of running account instead of bill to bill settlement.

However, in case of new clients who are registered at the end of a month / quarter, no settlement would be required to be done in the first month / quarter respectively in which the client is registered.

What balances need to be considered while settling funds and securities of clients?

Exchange Circular NSE/INSP/13606 dated December 03, 2009, states that a member has to settle clients “funds and securities” at least once in a calendar quarter or month.

Accordingly members need to consider the EOD balance of funds and securities of clients across all segments of the Exchange while settling the client accounts.

It is clarified that while settling client accounts, both funds and securities of clients need to be settled on the same day.

What is the value of funds / securities that a trading member can retain while doing the settlement?

As per Exchange Circular NSE/INSP/13606 dated December 03, 2009, for the clients having outstanding obligations on the settlement date, a member may retain the requisite securities / funds towards such obligations and may also retain the funds expected to be required to meet margin obligations for next 5 trading days, calculated in the manner specified by the exchanges.

Accordingly the following funds / securities may be retained by a member at the time of settlement

  • Entire pay-in obligation of funds & securities outstanding at the end of day on date of settlement
  • Funds / securities to the extent of value of transactions executed on the day of such settlement in the capital market
  • In derivative segment apart from margin liability as on the date of settlement, additional margins (maximum up-to 75% of margin requirement on the day of settlement)

An indicative format of retention statement is attached as Annexure 1. In case of any other format, members should ensure that the contents specified by the relevant circulars are covered in the retention statement.

Note:

While computing the value of securities, the closing rate for the trade date prior to the settlement date (T-1 day) should be considered after appropriate hair-cut viz. VaR margin rate applicable for the security in the Capital Market segment

In case the member applies hair cut in excess of VaR rate on a regular basis then such higher rate may be considered for determining the amount to be retained, provided the member has intimated the requirement of additional margins to the clients through the policy and procedures document and consistently through the daily margin statements issued to clients

No inter client adjustment can be done for the purpose of settling client accounts.

Obtaining of authorization from the clients to the effect that no settlement need be done for particular month(s) / quarter(s) is contradictory to the SEBI requirement and hence not permissible.

In case the member issues cheques in favor of the client, settlement will be deemed to have been done only if such cheque is cleared within a reasonable period.

In case of settlement done on trading holiday(s), T day to be considered for margins / turnover, etc., would be the previous trading day

In case the trading member has created Fixed Deposit Receipt out of the funds received from the client then the same needs to be settled as part of the settlement process.

Illiquid / volatile scrip’s having VaR margin (hair cut) as 100% also need to be returned to the client if adequate securities are available with the member as per its risk management system.

When should a member send statement of accounts for funds / securities?

A Member is required to send to the client ‘statement of accounts’ containing an extract from the client ledger for funds, an extract from the register of securities displaying all receipts and deliveries of securities and a statement explaining the retention of funds and / or securities at the time of settlement.

The statement of accounts sent at the time of settlement may be sent in hard or in soft form as per the consent obtained from the client and POD / dispatch register / logs of email sent should be retained by the member.

What details should the statement of accounts sent at the time of settlement contain?

A member could use any format for issue of statement of account at the time of settling client’s accounts. However the statement should necessarily contain the following details:

  • Transactions / MTM / margins debited and reversed / pay in and pay out of funds for the period from the date of last settlement done till the current settlement date
  • Tecurity wise pay in pay out / securities retained as margin / securities pledged for the period from the date of last settlement done till the current settlement date
  • closing balance of funds / securities available with the member on the date of settlement
  • an error reporting clause giving clients not less than 7 working days from the date of receipt of funds / securities or statement, to bring any dispute arising from the statement of account or settlement so made to the notice of the broker.
  • a clause intimating the client that the client has provided a running account authorization which can be revoked at any time.

In addition to the statement of account for funds members also need to provide to their clients a statement explaining the retention of funds / securities.

Is the member required to send statement of accounts for funds / securities at the end of quarter in addition to the statement sent at the time of quarterly / monthly settlement?

n case a member has done monthly / quarterly settlement of client accounts and has sent statement of accounts for funds & securities as well as retention statement to the clients at the time of settlement as a part of settlement process, it would be considered adequate compliance for the purpose of sending quarterly statement of accounts for funds / securities for such clients provided statement of accounts (issued at the time of settlement) is sent on a regular basis to clients.

However, for clients whose settlement is not required to be done (e.g. Clients maintaining bill to bill pay in and pay out), the member is required to send statement of accounts for funds / securities at the end of quarter.

Is statement of account required to be issued in case no trades are done by clients in the quarter / month?

In case a client has not traded during the quarter / month and the trading member does not hold any funds or securities for the client at any point of time during the quarter / month for which settlement needs to be done, then the member may decide not to issue statement of account to the client.

In which circumstances settlement need not be done by a member?

Periodic settlement as per the above mentioned rules is not required to be done in the following cases:

  • Clients settling trades through “custodians”
  • Clients availing margin trading facility (to the extent of funds / securities relating to margin trading facility used by client)
  • Margin received in the form of Bank Guarantees and Fixed Deposit Receipts which are created by clients
  • Clearing members who are clearing trades of custodial participants / trading members
Can a member retain funds of clients towards obligations towards its sister companies?

While settling client accounts on monthly / quarterly basis a member cannot retain funds or securities in excess of the balances mentioned in Point 5.

Accordingly, while ascertaining retention amount, a member cannot consider debit balances of client which are arising in the books of sister concern / associate of the member which is registered in other exchanges / commodities broking.

Annexure 1

(A) Total value of clients Funds and Securities available
Particulars Amount (Rs.) Amount (Rs.)
Unencumbered balance in client ledger (after reversing value of unsettled bills if any in case of trade day billing and margin amount if debited in client ledger) xxxx
Unencumbered balance in margin ledgers xxxx xxxx
Value of Securities Available on T Day with member (at closing rate of T-1 Day after appropriate Haircut) xxxx
Total Funds and Securities available xxxx

(B) Explanation regarding Retention of Funds and Securities
Particulars NSE CM Segment NSE F&O Segment NSE CD Segment Other Exchange Amount (Rs.)
Unencumbered Debit balance in client ledger (across segments / exchanges after reversing value of unsettled bills if any in case of trade day billing and margin amount if debited in client ledger) XXXX
T-1 Day Funds Pay in obligation XXXX XXXX XXXX XXXX
T-1 Day Funds Pay in obligation XXXX N/A N/A XXXX
T Day Securities Pay in obligation in CM segment XXXX N/A N/A XXXX
T Day Securities Pay in obligation in CM segment XXXX N/A N/A XXXX
175% of T Day Margin Requirement in Derivatives seg N.A. XXXX XXXX N.A.
T Day turnover in CM segment XXXX N.A. N.A. XXXX XXXX
T Day turnover in CM segment XXXX N.A. N.A. XXXX XXXX
Maximum Funds and Securities that can be retained XXXX

(C) Retention of Funds and Securities (Value)
Scrip Name ISIN Quantity Closing Rate on T-1 Day Haircut Value
Funds released XXXX
Funds released
XXXX XXXX XXXX XXXX
XXXX XXXX XXXX XXXX
XXXX XXXX XXXX XXXX
Total Retention XXXX

(D) Details of Payout to client
Scrip Name ISIN Quantity Closing Rate on T-1 Day Haircut Value
Funds released XXXX
Funds released
XXXX XXXX XXXX XXXX
XXXX XXXX XXXX XXXX
XXXX XXXX XXXX XXXX
Total Retention XXXX

(E) Amount not required to be returned
Value of BG's received from client - not required to be returned (With details of each BG) XXXX
Value of FD's received from client - not required to be returned (With details of each FD) XXXX

NRI - Trading Account

Who is a non-resident Indian (NRI)?

Non-Resident Indian (NRI) means a “person resident outside India” who is a citizen of India or is a person of Indian origin"[as per FEMA regulations]

Can NRI invests in shares in India through a stock exchange?

Yes, NRI can purchase shares or convertible debenture of an Indian Company through stock exchanges, under the portfolio investment scheme on repatriation and /or non repatriation basis.

Can NRI/PIO invests in other securities?

Yes, NRI/PIO can invest in other securities namely

  • Dated Government securities (other than bearer securities) or treasury bills.
  • Units of domestic mutual funds.
  • Bonds issued by a public sector undertaking (PSU) in India.
  • Shares in Public Sector Enterprises being disinvested by the Government of India.
Are NRIs allowed to invest in Exchange Traded Funds (ETFs)?

Yes, NRIs are allowed to Invest in Exchange Traded Funds (ETFs). NRIs can invest in ETFs both on repatriation as well as non repatriation basis.

How can NRIs invest in shares in India?

As per Reserve Bank of India (RBI) guidelines, NRI who wishes to invest in shares in India through a stock exchange need to approach the designated branch of any authorized dealer (bank) authorized by reserve bank to administer the PIS (Portfolio Investment Scheme) to open a NRE (Non Resident External) /NRO (Non Resident Ordinary) account under the scheme for routing Investments.

What is a designated bank branch?

Reserve bank of India has authorized few branches of each authorized dealer bank to conduct the business under portfolio investment scheme on behalf of NRIs. NRI can select only one authorized dealer bank for the purpose of investments under portfolio investment scheme and route the transactions through the branch designated by the authorized dealer bank.

What is a Portfolio Investment Scheme (PIS)?

Portfolio Investment Scheme (PIS) is a scheme of reserve bank of India under which - Non Resident Indian (NRIs) can purchase/sell shares/convertible debentures of Indian companies on Stock Exchanges under Portfolio Investment Scheme. For this purpose, the NRI/PIO has to apply to a designated branch of a bank, which deals in Portfolio Investment. All sale/purchase transactions are to be routed through the designated branch.

Who is a person of Indian Origin?

For the purposes of investments in shares/securities in India, person of Indian origin means a citizen of any country other than Pakistan or Bangladesh, if

  • He at any time, held an Indian passport; or
  • He or either of his parents for any of his grand parents was a citizen of India by virtue of the constitution of India or Citizenship Act, 1955 (57 of 1995); or
  • The person is a spouse of an Indian citizen or a person referred to in clause (a) or (b)
Who is an overseas citizen of India (OCI)?

Under OCI Scheme operational from 02nd Dec 2005 government of India decided to grant overseas citizenship of India (OCI) commonly known as “dual citizenship”. A foreign national, who was eligible to become a citizen of India on 26.01.1950 or was a citizen of India on or at anytime after 26.01.1950 or belonged to a territory that became part of India after 15.08.1947 and his/her children and grand children, provided his/her country of citizenship allows dual citizenship in some form or other under the local laws, is eligible for registration as an Overseas Citizen of India (OCI). Minor children of such person are also eligible for OCI. However, if the applicant had ever been a citizen of Pakistan or Bangladesh, he/she will not be eligible for OCI.

Can PIO (Person of Indian Origin) as well as OCI (Overseas Citizen of India) also invest in shares in India?

Yes, PIOs and OCIs do have a parity with NRIs in respect of all facilities available to the NRIs in the economic, financial and educational fields except in matters relating to the acquisition of agricultural/ plantation properties.

What is an Overseas Corporate Body (OCB)?

‘Overseas Corporate Body’ means a company, partnership firm, society and other corporate body owned directly or indirectly to the extent of at least sixty percent by Non-Resident Indians and includes overseas trust in which not less than sixty percent beneficial interest is held by Non - Resident Indians directly or indirectly but irrevocably.

Can Overseas Corporate Body (OCBs) also invest in shares in India?

OCBs have been prohibited from making investments under Portfolio Investment Scheme. OCBs have been de-recognized as a class of investor entity w.e.f. September, 16, 2003. Further, the OCBs which have already made investments under the PIS are allowed to continue holding such shares /convertible debentures till such time these are sold on the stock exchange.

What are the documents required to be collected from Investor to open a NRI/PIO/OCI trading account?

List of documents to be taken while registering NRI/PIO/OCI Clients as may be applicable Document ensuring status of entity

  • In case of Indian passport - Valid passport, Place of birth as India, Valid Visa – Work/Student/employment/resident permit etc.
  • In case of foreign passport : Valid passport and any of the following
    • Place of Birth as India in foreign passport
    • Copy of PIO / OCI Card as applicable in case of PIO/OCI
  • PIS Permission Letter from the respective designated bank
  • PAN Card
  • Overseas Address
    • Driving License/ Foreign passport /Utility Bills/Bank statement (not more than 2 months old)/Notarized copy of rent agreement/ leave & license agreement/ Sale deed.
  • Photograph of Investor.
  • Proof of respective bank accounts & depository accounts.
What are other client registration formalities to be taken care while registering NRI/PIO/OCI Clients?

In case of NRI/PIO/OCI client registration documents are required to be executed by client himself and not by Power of Attorney Holder. In case of In-person verification of such clients, the members may obtain from such clients KYC documents attested by any one of the following entities – Indian Embassy/Consulate general in the country where the client resides, Notary Public, Court, Magistrate, Judge or Local banker.

Is it mandatory for a client to provide local (Indian) address?

At the time of client registration, client needs to provide its foreign address along with documentary proof of the same. If client so desire it can keep its local address as correspondence address. In such scenario additionally they are required to provide documentary evidence in support of local address also.

Can two separate trading accounts namely (NRE & NRO) can be opened by NRI?

Yes, clients can have two separate trading accounts based on NRE & NRO.

What are the additional requirement with respect to contract notes?

Contract notes in original for both purchase and sale transactions needs to be submitted with in the time specified by the designated bank to enable designated banks to report the same to Reserve Bank of India.

What precautions trading member needs to take while dealing with NRI Clients?

Trading member need to ensure that

  • Securities are not in RBI ban list before executing the order.
  • Clear funds are available for purchases.
  • Securities are available before executing any sell order.
  • Depending upon whether the purchases are made on repatriation / non-repatriation basis pay-out of the securities needs to be transferred to respective de-mat account.
  • Purchase/Sale transactions in cash segment should be settled by delivery only.
Is there any ceiling on the Investments under the Portfolio Investment Scheme?

NRIs are allowed to invest in shares of listed Indian companies in recognized Stock Exchanges under the PIS.

  • NRIs can invest through designated ADs, on repatriation and nonrepatriation basis under PIS route up to 5 per cent of the paid- up capital / paid-up value of each series of debentures of listed Indian companies.
  • The aggregate paid-up value of shares / convertible debentures purchased by all NRIs cannot exceed 10 per cent of the paid-up capital of the company / paid-up value of each series of debentures of the company.
  • The aggregate ceiling of 10 per cent can be raised to 24 per cent, if the General Body of the Indian company passes a special resolution to that effect.
How payments could be made by NRIs for shares purchased on stock exchange?

Payment for purchase of shares and/or debentures on repatriation basis has to be made by way of inward remittance of foreign exchange through normal banking channels or out of funds held in NRE/FCNR(B) account maintained in India. If the shares are purchased on non-repatriation basis, the NRIs can also utilize their funds in NRO account in addition to the above.

How NRIs/PIO can remit Sale proceeds?

In case of NRI/PIO, if the shares sold were held on repatriation basis, the sale proceeds (net of taxes) may be credited to his NRE /FCNR(B)/NRO accounts of the NRI/PIO, whereas sale proceeds of non repatriable investment can be credited only to NRO accounts

Can an NRI transfer shares purchased under PIS to others under private arrangement?

Shares purchased under PIS on stock exchange shall be sold on stock exchange only. Such Shares cannot be transferred by way of sale under private arrangement or by way of gift (except by NRIs to their relatives as defined in Section 6 of Companies Act, 1956 or to a charitable trust duly registered under the laws in India) to a person resident in India or outside India without prior approval of the Reserve Bank.

Can an NRI purchase securities by subscribing to public issue? What are the permissions/approvals required? How can those shares be sold?

Yes. The issuing company may issue shares to NRI on the basis of specific or general permission from GoI/RBI. Therefore, individual NRI need not obtain any permission. While seeking the credit of sale proceeds to NRE/NRO account, the designated bank should be provided with the details regarding date of allotment and cost of acquisition to calculate the taxes, if any.

Can NRI do Intra-day transactions in cash segment?

No, NRI Investor has to take delivery of shares purchased and give delivery of shares sold. Short Selling is not permitted.

Can NRI trade in futures & options segment of the Exchange?

Yes, NRIs are allowed to invest in futures & options segment of the exchange out of Rupee funds held in India on non repatriation basis, subject to the limits prescribed by SEBI.

Can NRI trade in Currency derivative segment of the Exchange?

No, Only “a person resident in India” as defined in section 2(v) of FEMA Act 1999 are allowed to participate in currency derivative segment of the Exchange.

Can trading account be opened for person’s resident outside India who had been allotted shares under ESOP scheme?

Listed Indian companies are allowed to issue shares under the Employees Stock Option Scheme (ESOPs), to its employees or employees of its joint venture or wholly owned subsidiary abroad who are resident outside India, other than to the citizens of Pakistan. Trading account can be opened for person’s resident outside India only for the sole objective of selling of shares acquired under ESOP Scheme.

Can rights/bonus shares be issued to NRI?

FEMA provisions allow Indian companies to issue Rights / Bonus shares to existing non-resident shareholders, subject to adherence to sectoral cap as may be applicable

What needs to be done by NRIs for trading in Futures & Options segment of the Exchange?

An NRI, who wishes to trade on the F&O segment of the exchange, is required to approach the exchange through a clearing member, through whom the NRI would like to clear his trades for allotment of custodial participant (CP) code. Clearing corporation would assign a CP code to each NRI, based on the application received from the clearing member of the NRI. Trading members should ensure that at the time of order entry CP Code of the NRI is placed in the CP Code field of the trading system. The NRI client shall have only one clearing member at any given point of time

What are the limits applicable to NRI in Exchange Traded Derivative Contracts?

Position limits would be applicable on the combined position in all derivative contracts on an underlying stock at an Exchange. Position limits for NRIs shall be same as the client level position limits specified by SEBI from time to time.

For Index based contracts - Disclosure requirement for any persons or persons acting in concert who together own 15% or more of the open interest of all derivative contracts on a particular underlying Index.

For Stock option and single stock futures contracts – The gross open position across all the derivative contracts for a security for each specific client shall not exceed higher of:

  • 1% of the free float market capitalization (in terms of number of shares) OR
  • 5% of the open interest in all derivative contracts in the same underlying stock (in terms of number of shares)

Client level position limits security-wise, are made available to members on NSE’s website.

How Investment positions of NRIs are monitored?

Reserve Bank monitors the investment position of NRIs/FIIs in listed Indian companies, reported by designated banks, on a daily basis. When the total holdings of NRIs/FIIs under the Scheme reaches the limit of 2 percent below the sectoral cap, Reserve Bank will issue a notice (caution list) to all designated branches of designated banks cautioning that any further purchases of shares of the particular Indian company will require prior approval of the Reserve Bank.

Once the shareholding by NRIs/FIIs reaches the overall ceiling / sectoral cap /statutory limit, the Reserve Bank places the company in the Ban List. Once a company is placed in the Ban List, no NRI can purchase the shares of the company under the Portfolio Investment Scheme. List of caution/banned RBI scrip is available at http://www.rbi.org.in/scripts/BS_FiiUSer.aspx

In case a person who is resident in India becomes a non-resident, will he/she be required to change the status of his/her holding from Resident to Non-Resident?

As per section 6(5) of FEMA, NRI can continue to hold the securities which he/she had purchased as a resident Indian, even after he/she has become a non resident Indian, on a non-repatriable basis.

In case a non-resident Indian becomes a resident in India, will he/she be required to change the status of his/her holding from Non- Resident to Resident?

Yes. It is the responsibility of the NRI to inform the change of status to the designated authorized dealer branch, through which the investor had made the investments in Portfolio Investment Scheme and the DP with whom he/she has opened the demat account. Subsequently, a new demat account in the resident status will have to be opened, securities should be transferred from the NRI demat account to resident account and then close the NRI demat account.

In case a non-resident Indian becomes a resident in India or vice versa, will he/she be required to open a new trading account?

Yes, Trading member needs to open a new trading account which needs to be uploaded with the new category code (01 – Resident Individual) & (11 – NRI) as may be applicable.

References

  • RBI Master Circular dated RBI/2010-11/13 dated July 01, 2010.
  • FAQ hosted on RBI website www.rbi.org.in
  • NSE Circular dated Nov 27,2003 , NSE/INVG/2003/4593
  • NSE Circular dated Dec 21,2004 , NSE/MEM/5676
  • NSE Circular dated Jul 04,2008 , NSE/INSP/10938

Disclaimer

This FAQ is prepared based on Exchange’s understanding of FEMA regulations. While utmost care has accuracy of the information and disclaims all liabilities, losses and damages arising out of the use of this information. The readers are requested to keep abreast of the changes taking place in the underlying provisions of RBI.

SMS & Email based trade alerts facility for investors

What is the SMS/Email alert facility provided by NSE to investors?

In a move to check unauthorized stock market trades through investor accounts, NSE sends SMS/Email alerts to retail investors for their transactions on days they have traded.

  • Facility is absolutely FREE of cost
  • Alerts are sent after end of market hours
  • Facility is provided for trades done on NSE only
  • Facility covers Cash Equity, Equity Derivatives, Currency Derivatives & Debt segment
  • Alerts are provided only on days when investor trades on NSE
What should investors do to activate SMS/Email based trade alerts?

Investors should ensure that they share their email/mobile number (Indian Mobile number only) with their Stock broker. They should further verify that their stock broker has updated the same on NSE records. Whenever there is a change in the mobile/email of investors, they should contact their stock broker for updating the latest information in NSE’s records.

When will this facility get activated?

The trade alerts facility gets activated once the Stock broker updates an investor’s mobile number/email ID on NSE’s records. Investors initially receive a welcome SMS/Email on the registered mobile number/email id. The investor will start receiving trade alerts after 7 working days from the date on which the investor has received the welcome SMS/Email.

What kind of information is provided in the SMS/Email?

SMS: Segment wise total traded value is provided consolidated on the basis of mobile number.

Email: Detailed transactional information containing the price and quantity bought and/or sold is provided. The trade data is consolidated in PDF files on the basis of PAN and sent together to the email id.

It has been observed that certain families provide a single mobile / email for all accounts of the family. Assuming such a case of 3 family members (3 PANs) who have traded as given below, but have provided the same mobile number and email id:

The SMS / Email will be sent to the above provided single mobile & email as follows:

  • 1 SMS will be sent on 9999999999 with total value displayed as Rs 300 for CM segment & Rs 200 for F&O segment.
  • 3 emails (1 per PAN) will be sent to abc@xyz.com with a PDF attachment for PAN wise trades.
Segment PAN Mobile Email Value Traded
CM AAAAA1111A 9999999999 abc@xyz.com 100
CM BBBBB2222B 9999999999 abc@xyz.com 100
CM CCCCC3333C 9999999999 abc@xyz.com 100
F&O AAAAA1111A 9999999999 abc@xyz.com 200
What is the procedure to open the Trade alerts received through Email?

Investor will receive Email which contains PDF attachment of trading transaction. Please follow the procedure given below for opening the attachment:

  • Click on the attachment provided with the mail
  • You will be prompted for your password.
  • The password is your PAN number in upper case (CAPITAL letters).
  • Please check the first 3 letters of PAN provided in the mail attachment, to avoid mistakes.
What should an investor do, if he/she receives a welcome message although he/she has not registered with any stock broker (i.e. by mistake)

An investor may receive a welcome message by mistake if another investor/stock broker has mistakenly updated incorrect email/mobile number in NSE’s records. To handle such situations, the welcome email/SMS has a facility to indicate the mistake. In case of email, a deactivation link is provided to be clicked by the investor and in case of SMS, investor can reply back through SMS.

What if an investor clicks on deactivation link received in welcome email by mistake?

When an investor clicks on the deactivation link, the facility for SMS and email alerts gets deactivated. If the investor has done this by mistake, then he needs to send a request for reactivation of this facility along with his details viz. PAN, registered mobile number and email id to uci@nse.co.in

What should investors do if they receive SMS/Email alert for trades not authorised by them?

In such cases investors should immediately take up the matter with their stock broker for clarification. If the investor is not satisfied with the explanation, they can take up the matter with NSE’s Investor Services Cell (ISC) by contacting 022-26754312 / 1800220058 or ignse@nse.co.in

Can an investor choose not to receive trade alerts?

As directed by SEBI, NSE will mandatorily send SMS/Email alerts after end of trading hours to all the retail clients who have traded that day and whose mobile number and/or email address has been updated by the trading members on NSE’s records.

What should an investor do if he/she has not received Trade Alerts?

An investor may not receive trade alerts due to the following reasons:

  • He/She has not traded on NSE that day
  • He/She has not provided mobile number/email id to stock broker
  • The Stock broker has not updated NSE’s records with correct mobile number/email id
  • Investor’s mobile/email has been updated less than 7 working days ago
  • The email box is full at investors end
  • Investor’s mobile is out of coverage area when attempts are being made to deliver SMS

If all the above possibilities of failure have been verified and still investor has not received alerts; kindly email us on uci@nse.co.in with your registered Email ID, mobile number and PAN number mentioning your exact query.