What precautions are to be kept in mind in case of cheques received from members ?

  • Cheques received / recorded in the books of Trading Member on or before T day and deposited by member by T+1 day (excluding bank holiday, if any) and cleared subsequently, can be considered.
  • In case a cheque is received from a client and the same is recorded in the books on or before T day and deposited by T+1 day, Member shall report the margin collected from such client after considering the effect of such cheque, if the same is cleared within T+5 days.
  • Only cheques which are cleared should be considered and cheques dishonored or not cleared up to T+5 working days should not be reported as margin collected.
  • If subsequent to the margin reporting by the Member, the cheque deposited by the Member is dishonored or not cleared within T+5 working days, then revised margin file shall be uploaded after factoring into the effect of such dishonored or non-cleared cheques ,with incremental batch number within the above mentioned five days.


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