Sebi new margin rules Full Details

 

Kya Hai Naya Margin Pledge Rule? Kya Karein Investors?


Sebi new margin rules
Sebi new margin rules


Kya aap SEBI ke naye Margin Pledging rule se pareshan hai? Kya aap confused hai ya aapko saajh me nahi aa raha hai ki is rule se aap par kya effect hoga? Kaise aap daily trading kar payenge is naye system ke andar? Pareshan hone ki koi zarorrat nahi hai, is blog me, main aapko poora acche se samjhaunga ke SEBI ka ye Naya Margin Pledging system akhir kya hai. Lekin uske liye aapko blog ko poora end tak read krna padega, aur mere saare future post ke saath jude rehne ke liye mere blog ko subscribe karna padega.

 

 

Margin Kya hai?

Upfront Margin - Ye phrase aapko sabse zyada sunai dete honge India ke stock market me. Upfront Margin ke do alag variations hai.

1.     Upfront Margin wo amount hai jo aapko apne Demat account pe daalna hota hai, koi bhi equity ya shares me deal karne se pehle. YE wo paisa hai jo Exchanges, jaise BSE ya NSE, Share Brokers ko koi bhi deal ke liye charge karte hai. Zahir si baat hai, kisi bhi deal to execute karne ke liye aapke paas paisa hona zaroori hai, aur wohi hai upfront Margin Money. Ye upfront Margin money aapko koi bhi equity ya commodity me trading karne se pehle chukani padti hai.

2.     Doosre prakar ka ek margin money ab tak chal raha tha, ye Margin Stock broking company tai karti thi, aapke total investment ko hisaab me rakhke, broking companies, aapko ek amount ka Margin de ti thi, jisse aap trade kar paate the abtak. Example ke taur par, agar aapke paas 1 lakh ka investment portfolio hai, to aapka broker aapko ek certain amount, jaise 10% ka Margin fund deta tha, jiske zaroye aap, 1 lakh se zyada amount ka trading kar paate the.

Ab aap poochenge ki brokerage companies, kaunse formula ke base par ye Margin decide karti thi? Upfront Margin ke liye brokerage companies two alag tareeka use karti thi.

1.     Value at Risk (VAR)

2.     Extreme loss Margin (ELM)

 

In dono factors ke zariye, ab tak aapka, upfront margin decide kiya jaata tha.

 

Cash aur Stock Margin - Purana System

Ab samajh lete hai ki purana margin system kaise kaam karta tha.

 

1.     Cash margin: Cash Margin ka matlab bahut seedha hai, aapke Demat account me samajh lijiye aapne 1000 rupay rakhhe hai. Ye paisa aapne Broker ko pay kiya hai, trading ke liye. In Paison me se jo surplus money hoga, wohi hai aapka Cash Margin hai, yaani jitna paisa aapke Demat account me hai, usi ke zariye ap trading kar sakte hain. Ye hai Cash margin.

2.     Stock Margin: Ab samajh lijiye ke aapke paas 1000 ke stocks hai, agar aap in atocks ke against Brokers se loan lete hain, to isko kaha jayega Stock Margin, iska seedha matlab hai jaise aap extra paisa uthane ke liye apne ghar ke khilaaf mortgauge loan lete hai, ekdam waisa. Is case me, aapke Stocks ko security ke taur par rakhegi Broking companies, ye unke account me shiftki jayegi, aur fir aapko utne amount ka trading margin mil jayega. Ab agar is trade me aapko loss ka saamna karna pada to Broking companies aapke shares ko bech ke us loss ka bharpai karega. Ye hai stock margin, aise chalte aa raha tha humara system.

 

Sebi new margin rules
Sebi new margin rules

Naye System me Kya badla hai?

SEBI ne ye system ko puri tareeke se badal diya hai. Naya system kuch aise kaam karega.

 

Agar Naye system me aap apne Stocks ke Against Margin lena chahte hain, yaani aapne stocks ko ecurity ki tarah use karke aur zyada amount par trading karna chahte hain, to fir aapke shares ko Brokers ke account me transfer nahi karna hoga. Wo aap hi ke Demat account me rahega aur wahi se usko “pledged share” mark kar diya jayega. Ab ye Pledged Share ka matlab kya hai? Bahut seedha hai, jaise maine pehle kaha ki aap agar apne ghar ko girvi rakhke, ya apne gehno ko girvi rakhke market se paisa uthate ho, to usko pledging bolte hai, isi tarah shares ko girvi rakhke aap extra paisa le rahe ho, jo trading me use hoga. Ab agar aap trading me loss kha gaye aur paisa return nahi kar paye, to jaise aapke Girvi rakhe hue gehne return nahi aayenge, waise hi aapke stocks ko bech kar paisa uthaya jayega, jo kaam broking companies ab tak karti thi. Lekin SEBI ki is naye system me, shares pledge karne ke baad bhi, ye shares aap hi ke account me rahega, khali pledge mark kiya jayega.

 

Sawaal ye aata hai ke Pledge mark kaun karega? Ye pledge mark karega Clearing house. Clearing house kya hai? Clearing house hai wo Government institutions, jo koi bhi deal pe final stamp lagati hai aur usko approve ya disapporve karti hai, seedhe tareeke se kaha jaye to koi bhi Exchange related deal ko jo Sarkari company clear karti hai wo hai Clearing authority jaise India International Clearing Corporation (IFSC) Limited, Indian Clearing Corporation Ltd.,Metropolitan Clearing Corporation of India Ltd., Multi Commodity Exchange Clearing Corporation Ltd., National Commodity Clearing Ltd., national Securities Clearing Corporation Ltd., NSE IFSC Clearing Corporation Limited.

 

Ye Pledge kiya jayega Broker ke favor me, lekin broker ko ispe haq utna hi hoga jitna investors ko hoga aur aap apna margin amount khud decide kar sakenge. Broker ko is Pledged share ko claim karne ke liye ek naya Demat account kholna padega - TMCM - Client Security Margin Pledge account. TMCM means - Trading member Clearing member.

 

Lekin ye process yahi khatam nahi hoti, iske baad, apne Clent Security Margin Pledge Account ke zariyte brokers ko, in shares ko Clearing Corporation ke Favor me repledge karna padega. Is repledging ke baad hi aapko margin money di jayegi. Matlab poora process kaafi lamba aur double step waala ho gaya hai. Sirf yahi nahi, Agar brokers ke is demat account me Margin Money me 1 lakh se kam ka shortfall hua, to fir 0.5% penalty, 1 lakh se zyada ke shortfall par 1% penalty, aur lagataar 3 din ya mahine me 5 din Margin shortfall hota hai to 5% ki penalty lagegi. Matlab is poore process me brokers ki responsibility aur pareshaani aur zayda badh gayi hai.

 



Buy Today - Sell Tomorrow ka kya hoga? (BTST)

Share market me sabse popular share kharidari ka tareeka ye hai ki aaj khareedo, kal becho, lekin SEBI ke naye rule ke hisaab se ye process to namumkin lag raha hai? Nahi, Brokers ne iska bhi hal Nikala hai. Jiase samajhiye Aapne aaj Reliance ke 1 lakh ke shares liye. Iska VAR + ELM Margin hai 22% samajhiye. Iska kya matlab hai? Iska matlab ye hai ki agar aap agle din usko bechna chaho to aapke account me VAR+ELM margin ka 22000 INR hona padega, jo investors ke liye pareshani ki baat ho sakti hai.

 

Isi to mitigate karte hu, Brokers ne rasta nikala hai. Is naye system me agar aapne brokers ko 1 lakh ka poora amount bhi de diya, tab bhi broker, Exchange ko sirf VAR+ELM Margin ka 22000 hhi pay karega aur aapke stock ko block karega. Is tareeke se kal agar aap bechna chaho, to bache hua 78000 me se aapka Margin Money mil jayega. Ye unhi stocks pe available honge, jinpe VAR+ELM 50% se kam hoga, Indian me top 1500 company ke stocks me VAR+ELM 50% se kam hi hai, to unke liye BTST possible hoga.

Investors ko kya Profit aur kya loss?

Investors ke liye ek acchi baat ye hai ki margin Pledge karne ke baad bhi, Stocks ka ownership unhi ke paas rahega. Wo apna margin khud tai kar payenge. Pledged stocks client ke account me rehne se, inse aane waale dividend ya munafa poora client ko jayega aur broking houses ko nahi. Is tareeke se, aap koi bhi security ko pledge karke uske againt margin koney le sakte hain, pehle brokerage companies ke haathon me ye choice tha ki wo kuch securities ko accept na karein.

 

Lekin is naye system me bada pareshani ka bhi karan ho sakta hai. India me koi bhi share ka trasaction aapke Demat account me reflect hone me kam se kam 2 working days lagta hai. Matlab agar aaj aapne 1 lakh ka shares becha aur aapko aaj hi kuch aur kharidna hai us paiso se to wo possible hi nahi hoga. Pehle broking companies aapko Notional cash diya karti thi jo ab nahi di jayegi. To agar aapko usi din kuch aur khareedna ho to aapko apne shares ko pledge karnapadega. Ye tareeka kaafi complicated hai.

 

Issse Aur Kya pareshani hogi

Cash aur Derivatives me hone waale trading volume me kam se kam 20-30% ka kami aayega. Clients ko apne account me Margin money rakhna hoga jiske wajah se unka Return of investment kam ho jayega, unki Risk lene ka power kam hoga, aur uske ksaath sarkar ko milne waali Security Services Tax (SST) me bhi kami aayegi.

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