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How much penalty/What’s the rate of penalty levied by the Exchange?

Penalty is charged on the shortfall amount at the following rates:

Short collection for each clientPenalty Percentage
(< Rs 1 lakh) And (< 10% of applicable margin)0.5%
(= Rs 1 lakh) Or (= 10% of applicable margin)
1.0%

If the short collection continues for more than 3 consecutive days, a penalty of 5% is applied on the shortfall for each subsequent instance of short collection.

If there are more than 5 instances of short collection in a calendar month, then penalty at the rate of 5% is charged for every further instance of shortfall. 

Learn more about margin penalties on the NSE website.