Dear Customer,

Greetings from Nuvama!

We refer to your trading account code with us and would like to keep you informed about Imposition of penalty / interest on delayed payment in Derivatives Segment with effect from August 01, 2019.

In line with the same, we request you to make a note of the following points:-

• Nuvama Wealth and Investment Limited requires all its customers to make the payment towards settlement obligation on or before due date. In case of debit balance in cash segment, penal interest will be levied to the customer’s account to deter them from delaying the payment in future.
• Customers are further required to make payment of margin towards their Derivatives segment exposure. While Nuvama Wealth and Investment Limited accepts approved securities as margin, Nuvama Wealth and Investment Limited is not the beneficial owner of these securities ; hence customer has to arrange for own funds/securities for payment of margin to the exchange for positions taken.
• Customers are requested to make payment of 50% margin in the form of funds to avoid charging of interest in F&O segment. Accordingly, whenever customers provide securities margin (or there is shortfall in payment of securities margin) instead of margin in the form of funds towards exposure in F&O, Nuvama Wealth and Investment Limited reserves the right to charge interest on the debit balance lying in F&O segment.
• No ledger credit will be given for margin paid by the customer in the form of securities. The company may determine the rate of interest to be charged, at its sole discretion. Same will be communicated in debit note on interest sent to the customers.
• Interest as per applicable interest rate for the customer is levied on a daily basis in case of debit in customer’s ledger or a shortfall of funds for derivatives margin requirement. However, any increase in rate of interest from the rate of interest previously charged to the customer will be done with advance notice of 15 days to the customer. Interest will be calculated considering the balance lying across all exchange segments on any given day. Margins provided by the customer in the form of funds shall be interest free and Nuvama Wealth and Investment Limited shall not be liable to pay any interest on the same.

Please click here to see a sample illustration of how this process will work.

In case of any queries or clarifications, you can reach out to your Wealth Manager or you can reach us on our customer care toll free number 1800-102-3335 or write to us at helpdesk@nuvama.com.

Assuring services True To You. Always.

Warm regards,
Team Nuvama*

*Nuvama refers to Nuvama Wealth and Investment Limited