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    Buy Now Pay Later MTF

    What is CSMFA and why are my shares auto pledged in MTF in CSMFA?

    It is an account the broker maintains with the depositories to manage pledges of securities bought through the Margin Trading Facility (MTF). When you purchase shares under MTF, they are automatically pledged in favour of ICICI Direct – CSMFA in your demat account. If the pledge cannot be created, any unconfirmed MTF position will be squared off (closed) within five working days of the payout date.

    What is the process of pledging? Will there be any charge on Pledging/Un-pledging the shares? Can I square off or convert to delivery my pledged MTF position? Why have I not received any pledge link/instruction for my MTF positions? Why is my Pledge not confirmed in MTF?