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Encash facilitates credit of the sale proceeds from a sell side transaction to be credited to the investor’s bank account on the trade date itself. It’s like selling your stocks during the market hours, and getting the credit in your bank account the same evening, as against the normal procedure of getting sell trade credit on a T+2 settlement basis. With the funds been credited in advance, the investor gets access to increased liquidity. Given the nature of dealing, this facility is available only for sell side transactions.
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19-09-2018;
Encash - Mobile
In urgent need of funds? Get the sale proceeds credited to your bank on the trade day itself all through our Mobile App
19-09-2018;
Encash - mPowered
In urgent need of funds? Get the sale proceeds credited to your bank on the trade day itself.
Encash product can be used if you need the cash on the same day of the traded day.
What is 'ENCASH’?
ENCASH facilitates the customers to get the sale proceeds credited to their bank accounts on trade date. This would be enabled only for Sell transactions and for orders executed in this product the sale proceeds would be credited on the same day as against the normal sell trade & T+2 settlement. The funds will be credited in advance thereby increasing the liquidity for the customer.
What are the salient Features of ENCASH?
ENCASH product is made available only for Equity segment. Only fresh sell orders allowed in ENCASH trade. This product is being both in Bombay Stock Exchange (BSE) and National Stock Exchange(NSE).
Can the order placed in ENCASH convert to CnC?
ENCASH orders once placed cannot be converted to CnC order. Similarly a CnC sell order once places also cannot be converted to ENCASH order.
Can the order placed in ENCASH be treated as square off order?
ENCASH orders would not be treated as square off orders even if there is buy CNC order for the same scrip during the day.
