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I have an NRI account. How do I read the ledger statement?

NRI trades are settled on a bill-to-bill basis, based on the contract note reported by Zerodha to your bank. Please refer to this post to understand more.

When you execute trades, an entry is posted in the ledger on the same day. The bank entry will be posted as per the settlement cycle . The buy and sell trades are settled in your account separately.

  1. The amount is debited from your PIS account on the T+1 day for buy trades.
  2. The amount is credited to your PIS account on the T+2 day for sell trades.

Here’s an example of how the ledger can be read for the buy transaction:

1. The ledger entry on 29th Oct 2020 shows a debit of Rs. 40,434/-, indicating a buy transaction. The corresponding entry from the bank posted on the 31st of Oct 2020 confirms the receipt of the funds for the buy transaction.

2. This can be viewed in your PIS account statement where you’ll see a debit of the same amount as per the settlement cycle.

Here’s an example of how the ledger can be read for a sell transaction:

1. The trade settlement entry on 3rd May 2020 shows a credit of Rs.48478.82/-, indicating a sell trade. The corresponding entry from the bank posted on the ledger confirms the debit of the funds at the broker’s end for the trade.

2. This can be viewed in your PIS account statement where you will see a credit of the same amount as per the settlement cycle.

Note: Sometimes, trades aren’t settled to the PIS account, but are settled directly in the Savings Bank account. This is because a few banks consider ETFs and Bonds not part of the PIS regulations and hence make the settlements in the Savings accounts. Even IPOs are settled through the Savings bank accounts as they are considered as ‘Primary market’ transactions.