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Can I place order to buy shares immediately after I deposited a local cheque?

April 26, 2017buy Cheque deposited immediately local Shares

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Can I place order to buy shares immediately after I deposited a local cheque?

1 Answer

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No. You are NOT allowed to place buy order until the local cheque is cleared. Local cheque is given immediate value only for the settlement of outstanding purchase contracts. Please take note also that outstation cheque is NOT accepted neither for settlement nor placing order.