'Insufficient Balance of ABCD Scrip' issue in Mero Share

 

EDIS issue in Mero Share in Nepal

Well, you are on this page because you might have been facing the issue regarding share transfer in Nepal using Mero Share. One of the common issues is "Insufficient balance of XYZ scrip" whenever you are about to transfer the shares that you have already sold. 

You don't need to panic, as this issue can be solved with just a little effort. However, you need to first identify what exactly is causing this issue. Sometimes, due to an insufficient balance of scrip, this message is shown to the users. For instance, you have got only 15 units of XYZ share company and you have ordered to sell 20 units of the same company's shares. This means that you have been ordered to sell that many units of shares that you do not hold. 

If this has caused the issue, then check the number of shares that you hold of that particular company using the "My Shares" option from the MeroShare menu. Confirm the number of shares that you hold. Then contact your capital where you have opened the Demat account and also inform the broker that you have got insufficient shares.

However, sometimes this happens when you have kept the share of a particular company in pledgor. That means, you have mortgaged your shares or used them as collateral. Due to this, the specific shares that you have sold are shown in "freeze balance." For resolving this, you need to contact the bank and request them to remove them from the pledge or use another scrip for pledgor.

 Sometimes, the issue of "Insufficient balance" is also shown although you have sufficient balance and you have not mortgaged any of your shares. To confirm this as the main cause of the problem, please go to the "My Shares" option of Mero Share and check whether your securities are in freeze balance or free balance. 

You can only sell those shares which are included and shown under the "Free balance" section. If your shares are being shown under freeze balance, then it means you have not renewed your Demat account for long. For that, you need to visit your bank and fill up the Demat renewal form. You may also need to deposit Rs.100 as a renewal charge per year depending upon the capital.

After you have deposited the amount, show the voucher copy to the Demat department of the bank and request them to email the voucher and renewal form immediately for urgent renewal. This should not take more than an hour. This seems a critical issue when you have the settlement of shares. However, if you are not in an emergency situation, you can wait. Moreover, you can also complete the transfer through paperwork using DIS Slip that you get from your bank.

Take the DIS slip and go to the broker office to make the transfer manually using the slip/ DIS Cheque.

Hope that helps you. If this article has really helped you, then please share this article and feel free to comment with your queries.

Also Read:

Mero Share, Everything you need to know.

Useful tips for investing in Share Market in Nepal