I am also facing same issue
1 Like
Hi @ADINARAYANA ,
Thanks for sharing the screenshot with us. We have taken steps to correct this and you will see the improvements. Thanks for understanding and your continued support.
Hey @GIRISH ,
We are sorry for the inconvenience you’ve faced. Request you to please share your UCC ID or Ticket ID with us, so that we can investigate better. Also, your feedback is valuable and we’ve shared it with the appropriate team to enhance our services.
6TBCK9 is my ucc id daily interest is being charged i am using sgb pledge margin for position
1 Like
Hey Girish,
Appreciate you sharing your details.
A call has been scheduled. You can expect to hear from us shortly.
Hi @GIRISH ,
As per our telephonic conversation we have addressed your concern related margin pledge. You can read more about margin pledge here: Margin Pledge Policy and FAQs - Upstox Help Center
Feel free to reach us in case you need more help.
First you told sgbs are cash equivalents now you were telling need to maintain 50:50 ratio
1 Like
Hey @GIRISH ,
we are checking this internally and will reach out to you soon with an update. We request your patience in the meantime.
Hi Upstox Team,
Just now found out the issue regarding this. In the screenshot you have shared here for stocks considered for cash equivalents, the SGB DEC series i.e. ISIN code IN0020230168 is having a haircut of 10% as per your screenshot.
I’m sharing here the screenshot of approved list of scrips which i downloaded from upstox through my login.
In that list, the same SGB DEC series ISIN code IN0020230168 is having a haircut of 20%.
I think this is the issue here. If all other discount brokers are giving haircut of 10% to all SGBs and considering them as cash component, can you provide us the reason why upstox is not doing so?
Also can you tell us the reason why the haircut is 10% in your list and 20% in the customer’s list.
I hope this is one of the backend issue. Kindly resolve this at your end.
1 Like
Hi,
I have bought SGB FEB series bond in Feb 2024. And now it is reflecting in my portfolio but not available for pledging. The exchange has included SGB FEB seris in the approved list. Because in Zerodha’s updated approved list SGB FEB series is available for pledging. But still not updated in the upstox approved list. I don’t know why there is delay in updation of approve list in upstox. I am sharing screenshot of zerodha’s approved list for your reference.
Let us know when this issue will be resolved at your end.
IN UPSTOX THEY ARE NOT CONSIDERING SGB AS CASH EQUIVALENT YOU NEED TO MAINTAIN 50:50 RATIO TOO MUCH FED UP FROM BROKERS SERVICE . IN JANUARY THEY SAID SGB WAS CASH COLLETRAL AND IN MARCH THEY ARE SAYING IT IS NOW NOT CASH COLLETRAL strong text
Hi @sundaresan_s and @GIRISH ,
Thank you for getting in touch with us. As checked SGBs are a part of cash equivalents which means you won’t need to maintain a 50:50 cash-to-collateral ratio. There was one instance where the client was charged interest incorrectly on SGBs due to an intermittent issue at our end. The interest charged for this instance was reversed. So apologies if this led to any confusion. Do let us know if you’ve been charged interest on SGB pledging and we can look at the details at our end to rectify this.
I had been charged interest please reverse it.
ucc: 6TBCK9
Hi @GIRISH ,
We tried calling you to explain this, but your call went ringing. Please note, the interest charged has been reversed. Please refer to the ticket ID 8392662
You can refer to the link below for steps on how to access and download the ledger report from our mobile application:
Or refer to the link below for steps on how to access and download the ledger report from our web portal:
Thanks upstox
Now i am comfortably change over to Other broker where I am getting Gbonds, SGBs as cash components…
So thanks for your pathetic support
Thanks for your support . now sgb are Considered as gold bond
Hi @ADINARAYANA,
we’ve arranged a call for you to address your concerns and assist with issues you’ve been experiencing.
Hi Upstox Team,
Any update on this issue?
Hey @ADINARAYANA,
We were unable to reach you yesterday and today.
Our team has responded to your ticket on email, addressing your concerns. To ensure we provide the best assistance, could you please reply back on the same ticket with your queries?
Your confirmation will help us proceed with resolving your query effectively. Thank you for your cooperation.
Dear Vishal
You can see my conversation with different upstox community managers and upstox customer care …
Reached to you in all possible ways to get solve SGB as cash component issue…
But not get proper support from your team .
Customer care told and mailed me that SGBs are not cash component.
In community , managers are showing as cash component …ultimately we customers suffering.
So i took decision to change the broker and did the same …
All stocks,cash and SGBs are closed and applied for withdrawal request .
So it’s toooo late from your end …
Thanks for responding at least now …