Why was the withdrawal request rejected?

Withdrawal request of a given amount can be rejected due to many reasons as:-

i. Trades not settled: -

- Exchanges takes T+1 day to settle funds from selling equities and F&O trades to the Jainam account. So, funds from trades can’t available for withdrawable instantly.

-  In the case of intraday and F&O, the time taken for the realized profits, M2M, or sell value of options to be credited to the Jainam’s account is also T+1 day.

ii. End of the day process: - Funds can't be withdrawn on the same day because of reconciliation process and end of the day settlement. Client will be eligible for withdrawing the funds on the next day.

iii. Fund Addition on same day: - Funds added through a payment gateway also takes up to T+1 days to be credited to Jainam’s account. Hence same day withdrawal is not available. However, funds added are available for trading on the same day.

iv. Bank details are not updated : - Client’s bank details a i.e. EFT, Default bank ,IFSC code etc. are updated by the bank but are not updated in the software.

- RELATED FACT: -

 If a withdrawal request for an amount greater than the withdrawal balance is placed, the available withdrawable balance will be credited to the bank account. For example;

- If payout request is of = ₹ 9,500 but

-  the available withdrawable balance is = ₹10,000 then

- in such a case the actual payout will be = ₹ 9,500.