Why is the withdrawal request is being rejected?

Why is my withdrawal request rejected?

Your withdrawal request may be rejected due to any of the following reasons:

  1. If you are a collateral client (i.e., you've pledged your holdings) and you have open carryforward position/s, your cash balance will be used first to cover the margin requirement. This means that you may not have enough cash available to withdraw.
  2. If there is a mismatch between your bank account details and the details you provided to us, such as IFSC code, MICR code or name, your withdrawal request will be rejected due to security reasons.
  3. If you've placed a withdrawal request and later utilized the entire amount for taking an overnight position or investing in securities.
  4. Due to technical issues concerning the backoffice, your withdrawal requests may be rejected.
Please make sure that you have sufficient cash balance and correct bank account details before requesting a withdrawal.

Note: 
  1. You can only withdraw the amount that is shown under 'Withdrawable Amount' under the 'Funds' section in the My Account portal.
  2. If you have made a withdrawal request and incurred a loss during the trading day, the withdrawal request will still be processed for the remaining amount after adjustment. However, if the loss incurred is in excess of your available withdrawable balance, your payout request will be rejected.
    For instance, Mr. M's withdrawable amount was ₹1,40,000. He placed a withdrawal request for the entire amount at 8:00 AM. However, he had taken multiple positions in Derivative contracts and made a loss of:
    1. ₹30,000 -- The amount of loss incurred will be adjusted and remaining amount of ₹1,10,000 will be processed. (Brokerage and statutory charges are not included for easy understanding).
    2. ₹1,41,000 -- As Mr. M has lost all his capital in this event, his withdrawal request will be rejected.

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