Is dhan going to implement ASBA like facility proposed by SEBI for normal trading purposes? Is there any chance we might see Dhan tying up with any bank to offer 3 in 1 accounts? @PravinJ
Is dhan going to implement ASBA like facility proposed by SEBI for normal trading purposes? Is there any chance we might see Dhan tying up with any bank to offer 3 in 1 accounts?
Hi @svineels This is right now in proposal stage with SEBI / NPCI and not yet available for stock brokers to integrate.
Usually we like to be the first ones to implement innovations like this - we did that with DDPI, QR Login, Brokerage Estimator, Trade from Charts, webhooks, TV direct integration and likes of it. But I am guessing we will wait on this one - it’s not just about blocking margin - but running the entire settlement process. We want the customer experience to be seamless and how the trades will be settled, disputes if any will be managed - is all unknown at this stage. We will have to study this once details are out.
Thanks @PravinJ .
Dhan has always been the first to innovate as you said.
Looking forward for this one too.
Back in 2018-2020, I remember Upstox partnered with IndusInd bank for 3 in 1 account where funds can be blocked with an OTP and lien can be created for the day. And EOD, the lien would get removed. Settlement was also very smooth. Later during Covid period, this was discontinued due to the new regulations brought in by SEBI requiring upfront margins etc. But that process was very smooth as far as I had experienced.