With the new SEBI regulation getting in effect from 1st July 2022, the payment of mutual fund buy transactions will happen directly via users' bank accounts and not Upstox wallets. The objective of this help article is to explain the turnaround time expectations of the payments made.
As per the exchange guidance,
- The status of any Netbanking payment will be updated within T+5 working days.
- The status of any UPI payment will be updated within T+1 working days.
Based on the status received from the payment gateway provider, the order will be moved to the Open state once the payment is confirmed. If the confirmation is not received within the stipulated time, the order will be moved to the cancellation state.