Investor Corner
Client funds and bank accounts
Where to send funds, where they are held, and when your running account is settled.
Send funds only to the accounts listed below
These are the only bank accounts into which client funds should be transferred. Please do not transfer funds into any other account, and never make a payment in the name of an employee. We are not permitted to accept cash from you.
If anyone asks you to send money elsewhere, treat it as fraudulent and tell us through our grievance channel.
Designated client bank accounts
| Bank Account Description | Account Name / Title | Account number | IFSC code | Bank and branch |
|---|---|---|---|---|
| Upstreaming Client Nodal Bank Account (USCNB) | Pawan Parmeshwar Capital Private Limited USCNB Account | 008620110003316 | BKID0000086 | Bank of India, Stock Exchange, Mumbai |
How your funds are held
The account above is an Upstreaming Client Nodal Bank Account, or USCNB. Under SEBI’s framework, client funds received by a stock broker are held in such an account and upstreamed to the clearing corporation, rather than being retained by the broker. Funds are allocated in your name at the clearing corporation, and you can view the amounts allocated to you directly on the clearing corporation’s website.
We are required to return excess funds to you at each monthly or quarterly settlement, whichever cycle you have chosen.
Running account settlement
- Running accounts are settled at the choice of the client, on a monthly or quarterly basis, on the dates stipulated by the stock exchanges.
- The stock exchanges jointly issue an annual settlement calendar at the start of each financial year.
- Settlement is made by actual payment into the client's bank account. It is not effected by journal entries.
- Where a client with a credit balance has had no transaction for 30 calendar days, the entire credit balance is returned on the next monthly settlement date, whichever settlement cycle the client has chosen.
- No amount is retained on grounds of administrative or operational difficulty in settling the accounts of active clients.
- Authorised persons are not permitted to accept client funds or securities.
The settlement dates are fixed by the stock exchanges, which publish a joint settlement calendar at the start of each financial year.
If your account has been inactive
If you have a credit balance and have not transacted for 30 calendar days, we return the entire credit balance to you at the next monthly settlement, regardless of which settlement cycle you selected.