Some points:
- Brokers cannot pledge clients' Demat holdings without their knowledge anymore.
- Demat holders/clients will have to pledge/un-pledge directly.
- The brokerage industry asked for an extension of timelines citing operational challenges to implement the changes on such short notice, SEBI refused to oblige.
- For those who are not aware, until now the process of pledging, getting margins against your Demat holdings was pretty much opaque and under the broker's control with little to no transparency.
- If your holdings are already pledged as on 31st August, read this notice.