Standard Payout: Even though you have placed a withdrawal request, trading limits are not updated until your request is processed. 

You can cancel or modify your withdrawal request too.  


Instant withdrawal: Once you place an instant withdrawal request, trading limits will get updated at the same time. 

You cannot edit or cancel this request. 

Related Article: 

How can I withdraw funds from my Upstox account? 

Why has my withdrawal request been rejected? 

Why is my instant payout not credited to my bank account? (Deemed Success)?