Why have I not received full credit against the sell value of my holdings?
As per SEBI's new peak margin norms, if you sell stocks from your Demat or T1 (BTST), only 80% credit against the sale value will be available for subsequent trades in the same/other segments on the selling day. The balance 20% credit will be blocked under the " delivery margin " field on Kite until the next trading day.
You can check out the below table for the significant changes applicable after upfront & peak margin norm implementation:
|Action||Before implementation of the peak & upfront margin rules||From 1st December|
|Stocks sold from demat holdings||Can use proceeds to buy other stocks or trade in F&O||Can use 80% of the proceeds to buy stocks or trade in F&O. The balance 20% will be available for trade from the next trading day.|
|Stocks sold from T1 holdings (i.e. BTST)||Can use proceeds to buy other stocks or trade in F&O||Can use 80% of the proceeds to buy other stocks and 60% of the proceeds to trade in F&O|
|Intraday profits earned||Can use proceeds to buy stocks or trade in F&O on the same day||Cannot use the earnings until settled by the Exchanges i.e. T+1 for F&O and T+2 for Equity|
|Options sold ___________________________||Can use proceeds to buy stocks and trade in either currency or equity F&O on the same day||Can use proceeds only to buy options in the same segment i.e. option sell credit for stock options cannot be used to buy currency options.|
|Hedged Position||Can exit any leg first without margin penalty even if there is an intraday margin shortfall when the position with additional risk/margin isn’t carried overnight.||First exit the higher risk/margin position if adequate margins are not available since margin requirements will be monitored intraday and shortfalls may lead to a penalty.|
An NRI with a Non-PIS account can only use 60% of the sale proceeds for trading or investing on the selling day, and the remaining 40% will be released on the next trading day. See How can I open a Zerodha trading and demat account as an NRI?
Check this Z-connect post for more details.