Additions to existing Risk Management Policy of India Infoline June 24 2010

Hi,

This is the circular issued by India Infoline to its customers on Risk Management Policy on June 24 2010

Dear Customer,

 

Kindly note the following additions to our existing RMS Policy:

a. For the trade done on T day, client shall be required to make payment to IIFL towards the trade obligation on or before T+1 day.

 

b. NFDC category Client whose adjusted ledger debit balance (ALB) is less than 75% of the value of approved securities held on behalf of the client (in client's demat account, IIFL pool account, client beneficiary account and client margin account) as per IIFL's policy will be allowed to hold position maximum for 5 days from the trade date. Client shall be required to make the full payment towards the trade obligations latest by T+6 day.

 

c. In case, the client fails to make the payments either by making funds payment or selling the securities in its account by T+6th day, risk selling will be triggered and securities held on behalf of the client by IIFL to the extent of payment obligation of the client shall be sold as per the policy on or before T+7 day and Client shall be kept in square off mode in Trader Terminal.

 

d. Securities purchased by the client towards which the payment is not made in full shall be held by IIFL in the "Client Beneficiary Account" on behalf of the client to the extent of the payment obligation due from the client till the clearance of the dues.

 

e. In case client does not settle funds / securities in its account as per the running account authorization at least once in 30 days, RMS will sell the securities and recover the dues.

 

f. The specific securities to be sold as per the RMS policy shall be at the discretion of IIFL.

 

g. Clients are advised to check the ledgers and balances through the internet terminal or branches, email or SMS messages on a daily basis and co-operate.

 

The above changes will be applicable with effect from 28th June, 2010. If you require any clarifications or assistance, you may please contact your respective Relationship Manager or write in to us at info@5pmail.com or contact our Customer Care Desk at 40071000.

Warm regards,

Customer Care

India Infoline Ltd