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I see a deduction "Delayed payment charges" on my ledger. Why is this?

You could be charged 'delayed payment charges' in two scenarios:

  1. A negative balance in your account- If you have utilized funds higher than the amount available in your account, your account will result in a debit balance. There could also be scenarios where charges are levied in your account and you dont have the required balance which could result in a debit balance. In such cases, 0.05% per day or 18% p.a will be charged as interest on the debit balance.
  2. Over-utilisation of non-cash equivalent collateral margin -  Exchanges stipulate that for overnight F&O positions, 50% of the margin needs to compulsorily come in cash or cash equivalent collateral, and the remaining 50% can be in terms of non-cash collateral margin . If you don’t have sufficient cash margin and the shortfall is funded by non-cash collateral, there will be a delayed payment charge of 0.035% per day or 12.5% p.a on the shortfall in the cash margin requirement. Read more about pledging here .

You can view your Interest statement here .

Note: Interest charges are computed on a daily basis and charged once at the end of every month. 18% GST was applicable on interest accrued up to 31 December 2018.