What is pledging in Pay later (MTF) and what are the steps involved?

As per SEBI guidelines effective September 2020, users are required to pledge their PAY LATER position in favor of their broker. Hence the position created on T day needs to be pledged latest by 2:00 PM on T+1 day on the link sent to them via SMS, Mailer on their registered mobile number and Email id in order to continue holding their position.

Here are the steps to pledge stocks purchased under Pay later (MTF):

1. Click on the link sent by NSDL. Click here
2. Enter your PAN and click on Submit
3. Enter the OTP received from NSDL and click on Submit
4. Select the stock purchased under PAY LATER and click on Confirm