Why do I get a statement of accounts on a weekly basis?
Brokers need to send a ledger statement as well as a register of securities to their customers every week. The ledger statement comprises details of your fund transactions for the period. Likewise, the register of securities encompasses transaction information about your holdings.
Hence brokers are required to send the statement of accounts to all the active clients every week, as mandated by NSE (click here to read the circular).
What is the weekly statement of accounts?
A document that provides you a view of your account with all the securities transacted in during this week.
What should I do with this statement?
You can check your transactions and refer to the last row of the statement to check the cash balance for the week. If the closing balance value has a minus (-) sign, it indicates that you have a credit balance.
