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What is RSP Plan?Regular Stock Purchase Plan (RSP Plan) is a facility which provides you an opportunity to invest systematically and in a disciplined manner in specified stock(s) or Exchange Traded Funds (ETFs).You can place BUY orders for a pre-specified amount/quantity in stock(s) of your choice based on the plan selected by you (daily/weekly/monthly). This means that a onetime selection of RSP Plan will allow RSL to place orders on your behalf on regular intervals.
Who can avail of this facility?All trading clients of Reliance Securities Ltd. (RSL) can avail it.
What are the benefits of RSP Plan?There is no need to track the market regularly i.e., once an RSP Plan is placed, the selected stock is purchased on your behalf as per your plan. It also:Helps bring down the average cost of investment.Eliminates the risk of timing the market.Accumulates wealth by investing small amount regularlyReduces the risk of market volatility
What is an RSP Plan Request?An RSP Plan Request is an instruction given by you to RSL authorizing RSL to place BUY orders in your account as per the details specified by you.
Can I place RSP Plan Request for Sell transactions?No. You can place requests for "BUY" orders only.
Do I need to allocate funds for placing an RSP Plan Request?No. An RSP Plan Request is merely an authorization given to RSL to place BUY orders in your account as per your instructions; hence funds are not required or used when you place a request. However, it is advisable to maintain funds in the ledger.Your funds will be used at the time of placing actual RSP Plan orders in the market on a trading day.
If I place RSP Plan request, will my ledger balance be blocked for the full tenure?No, your ledger balance will not be blocked. Your funds in ledger will be used at the time of placing actual RSP Plan orders in the market on the specified dates.For example: if you have an RSP Plan to invest Rs 1000 monthly with the order placement date as 15th of every month. Then on the 15th of every month your ledger balance will be checked and depending on the availability of Rs 1000 free balance your RSP Plan order will be placed into the market.
Can I place RSP Plan request for any stock?No, RSP Plan Request can be placed only in the selected stocks and ETF (Exchange Traded Funds) mentioned in the RSP Plan list (available on the RSL website).Note: RSL has defined a maximum limit for scrips under RSP plan to secure your investment in the volatile market. Hence, at the time of RSP Plan request placement, the system checks the limit available for the period selected by you in the scrip and accordingly the order is placed. So if the limit for the selected period is exhausted you will not be allowed to place a RSP order. The system will display the message for the available limit incase if your request order is more than the available limit.NRIs clients are not allowed to invest in ETFs. RBI also restricts certain stocks for NRI investment from time to time. Hence all ETFs and those stocks which are restricted by RBI would not be available for NRI clients.
Where can I view the RSP Plan Stock List?Link for the ‘RSP Plan Stock List’ is available under RSP Plan on our website in ‘Our Offerings’ tab.The list can also be viewed post login on the RSP Plan Request page through ‘Search RSP Plan Stock’ button once your RSP Plan Subscription is activated.RSP Plan Stock List
SEBI WebsiteNote: RSL may include or exclude any stock from the RSP Plan Stock list at any time without any prior intimation. However, RSP Plan request already placed in any discontinued stock will remain active for the specified tenure.
Can I place RSP Plan request in Future and Options?No, RSP Plan request can be placed only in Cash segment
Do I need to login to my trading account on every RSP Plan schedule date to place the orders?No. Once you have placed your RSP Plan requests, RSL will place the RSP Plan buy orders on your behalf as per your RSP Plan schedule for the stock. You need not login to your account every time to purchase the shares.
• What is meant by Frequency?Frequency means the time interval with which you wish to place your RSP Plan orders (after the start date) in your account. The first order will be placed on the start date specified by you and thereafter at the defined frequency for the total tenure as per your request.For example: If you have placed an RSP Plan request for buying 100 shares of Reliance at a 'Monthly' frequency for a total period of 6 months with a start date of 15-05-2011. RSL will place 6 orders for this RSP Plan, i.e the first order will be placed on the start date (15-05-2011) and the balance 5 orders will be placed on 15th of every month for the next 5 months.
What would be the frequency?You can select daily, weekly or monthly frequency.
What are the types of RSP Plan I can choose on and how do I indicate my choice?You may select either Amount based RSP Plan or Quantity based RSP Plan. You can indicate your choice by selecting the desired option under the field "RSP Plan Type" at the time of placing the RSP Plan request.
What is Amount based RSP Plan?Amount based RSP Plan is a type wherein a fixed amount (or approximately the same) is invested in your desired stock at each frequency. You need to specify the amount to be invested in the stock at your desired frequency. Do note that the amount specified should be equal to or above the minimum amount defined by RSL.At the time of placement of your RSP Plan order, since quantity of shares have to be specified, the same will be calculated by dividing the RSP Plan amount specified by you with the previous day’s closing price of the stock plus 5% of the closing price.The formula would be: Quantity = RSP Plan Amount / (Previous Day’s Closing Price + 5% of Closing Price)Any fractional quantity will be ignored and order will be placed for the balance quantity. The actual order value would be based on the market price for the quantity so calculated above.To calculate the no. of shares to be purchased based on the last closing price, 5% will be added to the closing priceFor Example: If closing price of ABB is Rs 800 and an Amount based RSP Plan request is placed for Rs 2500. Though as per closing price RSP Plan order should be placed for 3 (Rs 2500/800 = 3.12) shares, however in this case order will be placed for 2 shares (2500/840 = 2.97) only, because adding 5% to the closing price will amount to Rs 840 (800+5%), to ensure that the RSP Plan order does not go above the specified amount.However, in case of very volatile movement in the stock the actual RSP Plan amount may go up marginally above the specified RSP Plan amount due to the reason that the quantity is calculated based on previous day’s closing price and the order is executed at the current market price.If the price of one shares calculated as per above formula is less than the specified RSP Plan amount then the RSP Plan order will not be sent to the exchange for that day and will be marked as ‘Unsuccessful’ RSP Plan order in the RSP Plan Request Summary.
What is the minimum investment amount required for Amount based RSP Plan?Minimum investment you can make in RSP Plan is Rs 250 Daily or above in multiples of Rs 10.In case of Weekly frequency minimum investment amount would be Rs 500 or above in multiples of Rs 50.In case of Monthly frequency minimum investment amount would be Rs 1000 or above in multiples of Rs 50.
What is Quantity based RSP Plan?Quantity based RSP Plan is an RSP Plan type wherein a fixed quantity of shares of your desired stock is purchased at each frequency. In this plan, the quantity would be as specified by you and would be fixed while placement of orders as per your desired frequency. The order value would be based on the market price of the stock prevailing in the market at the time of order placement.You can place an RSP Plan request for minimum quantity of 1.
What is the maximum and minimum tenure for the RSP Plan?In case of both Amount based and Quantity based RSP Plan Maximum tenure is 24 months, and minimum tenure is 1 month for daily, 3 months for weekly and 6 months for monthly frequency. You can select any no. of months from the available range.
How can I avail RSP Plan facility?You just need to activate your RSP Plan Subscription under the RSP Plan link post logging into your account. It will be activated instantly and then you can place your request for the desired stock.OR you can visit nearest RSL branch and fill up an RSP Plan Form for activation. Your RSP Plan facility will be activated within three working days of receipt of your completed form and you will be intimated through SMS and Email for your RSP Plan activation.You can place RSP Plan request through Call N Trade/Branch once it is activated.
How to place RSP Plan Request?Once your RSP Plan facility is activated, you can login to your trading account and click on the RSP Plan link and proceed to place your RSP Plan request, OR you can call up Call N Trade or your Dealer to place the request over the phone.
When will my RSP Plan start after placing the RSP Plan request?Whilst placing RSP Plan Request you need to mention RSP Plan start date. Your RSP Plan will start based on the start date selected by you. Once you place a request your entire RSP Plan schedule from first to last order will be generated which you can check under ‘RSP Plan Request Summary’ tab. Your RSP Plan orders will be triggered on the scheduled dates.
When will my RSP Plan order be placed?You will specify your RSP Plan Start date whilst placing your RSP Plan request, which could be any date for Daily RSP Plan and incase of Weekly/Monthly RSP Plan you can choose any date out of 7th, 15th, 22nd and 28th. Your first RSP Plan order will be placed on the Start Date selected by you.In case of Weekly RSP Plan your order will be placed on 7th, 15th, 22nd and 28th of every month. In case of Monthly RSP Plan your RSP Plan order date will be based on your selected Start Date. For e.g if you select your monthly start date as 15th, then your orders will be placed on 15th of every month.
What happens if my RSP Plan order placement date falls on a trading holiday?In case the defined RSP Plan order placement date falls on a trading holiday, then the order will be placed on subsequent trading day.RSP Plan orders are not scheduled for Saturday and Sunday, however orders are scheduled for all trading holidays falling on weekdays. Thus in case of a trading holiday falling on a weekday, the order will be scheduled and placed on the next trading day.Hence incase of Daily RSP Plan, multiple orders will be placed on a day if the previous day(s) order could not be placed due to trading holiday.Example: If Independence Day (15th Aug) falls on Monday, then weekly/monthly RSP Plan order scheduled on 15th will be placed on 16th, and in case of Daily RSP Plan, two orders will be placed on 16th, one previous order for 15th and another order for 16th.
At what time will my RSP Plan order will be placed?Your RSP Plan order will be placed into market between 9:30 AM to 10:00 AM.Note: Client’s orders under the scheme will be placed during 09:30 AM to 10:00 AM in the market hours on the order date specified by the client on best effort basis; however the order placement time may change due to system failure or any other reason. In such circumstances RSL should not be held responsible or liable for any actions, claims, demands, losses, damages, costs, charges, and expenses which client may suffer, sustain, or incur due to change in order placement time or non placement of the order.
At what price will my RSP Plan orders be placed and where can I see the details of the same?All RSP Plan orders will be placed as market orders. Once your RSP Plan order is executed successfully the same will reflect in Traded Orders with the status as ‘Trade Confirmed’ with the Trade Price.
What happens if I do not have sufficient ledger balance?If you do not have sufficient free ledger balance as required to place your RSP Plan order, your RSP Plan order for that date will fail which will be displayed in Order Book with the status as ‘Rejected’ with the Reject reason as ‘RMS: Margin Exceeds’.
Is there a possibility that my entire RSP Plan order may not be executed at the exchange?Yes. Reliance Securities Ltd. is merely your agent for placing orders as per the instructions given by you under the facility. RSL does not have any role to play in the execution of trades after the orders have been placed. Trade execution takes place at the exchange platform as per the order matching rules of the exchange. Thus there is a possibility that orders may be executed only partially or may not be executed at all; as is the case with normal cash transactions as well.Your RSP Plan order can also fail in case if the market price of the stock goes above your defined amount of investment or you do not have sufficient ledger balance at the time of order placement.If any RSP Plan order fails due to any reason, the same order will not be attempted again or will not be clubbed with any future orders irrespective of the sufficient ledger balance.However your remaining future RSP Plan orders will be active and will be placed for execution on the scheduled dates.
Can I place more than one RSP Plan Request?You can place as many RSP Plan request as you want once the facility is activated for your trading account.
Do I need to place different RSP Plan request for different stocks?Yes, you can specify only one stock in an RSP Plan request. Hence if you want to place RSP Plan requests for more than one stock you would be required to place separate RSP Plan request.
Can I place RSP Plan Request through Call & Trade or Dealing Desk?Yes, once your RSP Plan facility is activated you can place the request through Call N Trade or through your Dealer as well. You can also place cancellation request through Call N Trade or through your Dealer.
How will my RSP Plan transactions be settled?Settlement of RSP Plan transactions would be done in the same manner as cash transactions.
Can I sell shares which I have bought through RSP Plan?Yes. Stocks bought in your demat account through RSP Plan are at par with the ones bought by you in the cash segment. You can therefore sell/ otherwise deal in such shares at anytime as per your requirement.
Can I cancel RSP Plan?Yes, you can place a cancellation request for RSP Plan. Once the cancellation request is placed all pending orders for the RSP Plan will be cancelled.
Is there any time limit for cancellation of RSP Plan?You can cancel RSP Plan any time online or through Call N Trade or through your Dealer, however if any RSP Plan order placement date is pending for today then you need to place the cancellation request before 08:30 AM.For example if your next RSP Plan trigger date is 20th April 2011, then you can place the cancellation request before 08:30 AM on 20th April 2011.
Can I modify my RSP Plan Amount, Quantity or Tenure?No, once RSP Plan request is placed you will not be allowed to modify the amount, quantity, tenure or frequency. However, if you wish you can cancel the RSP Plan request and can place a fresh request with your desired combination.
Are there any charges for availing RSP Plan facility?No, there are no charges to avail RSP Plan facility. However delivery brokerage will be applicable on the transaction value as per your existing brokerage tariff.
Is the brokerage rate different for Cash and RSP Plan transactions?No, there is no change in the brokerage rates for RSP Plan transactions. Brokerage rates and applicable charges for RSP Plan transactions would be the same as your cash transactions.
Is there any penalty/charge for cancellation of RSP Plan?No, there is no charge on RSP cancellation.
Is there any penalty/charge if my orders are not executed due to insufficient Funds in my ledger?To bring in the right spirit of such product, we have specified maximum permissible consecutive RSP order failures due to insufficient funds, beyond such order failures, your account will be charged for every subsequent RSP order rejection due to insufficient funds. Maximum number of permissible consecutive RSP order rejection will depend upon your RSP plan frequency that is explained below:1.Daily Frequency: If your RSP plan is of Daily frequency & because of insufficient funds your RSP orders has failed 10 times on consecutive basis, you will be charged Rs. 15 (inclusive of service tax) per subsequent order failure till such time you cancel your RSP plan or your order start executing successfully. Your RSP Plan will be cancelled if you have been levied such charges 10 times on consecutive basis.2.Weekly Frequency: If your RSP plan is of Weekly frequency & because of insufficient funds your RSP orders has failed 4 times on consecutive basis, you will be charged Rs. 15 (inclusive of service tax) per subsequent order failure till such time you cancel your RSP plan or your order start executing successfully. Your RSP Plan will be cancelled if you have been levied such charges 4 times on consecutive basis.3.Monthly Frequency: If your RSP plan is of Monthly frequency & your RSP orders has failed 3 times on consecutive basis due to insufficient funds, you will be charged Rs. 15 (inclusive of service tax) per subsequent order failure till such time you cancel your RSP plan or your order start executing successfully. Your RSP Plan will be cancelled if you have been levied such charges 3 times on consecutive basis. If you wish to discontinue your RSP plan, kindly cancel your RSP plan to avoid levy of such charges.
I am an offline customer and do not use internet quiet often. How can I get my RSP Plan activated?You can visit your nearest RSL branch / RSL Business Partner or can get in touch with your RM for filling up RSP Plan form. Your RSP Plan facility will be activated within 3 working days on receipt of the physical completed form duly signed by you.ORYou can download the RSP Plan from at Reliance Securities website available under Customer Service tab and then submit the completed form duly signed by you at the nearest Branch/ Business Partner or give it to your RM/ Dealer.
How would I know that my RSP Plan facility has been activated?You will get an SMS and Email once your RSP Plan facility is activated. You can also check the status with your Dealer or Call & Trade desk.
Once my RSP Plan is activated, how can I place a RSP Plan request in any stock?After the plan is activated, you can place your RSP Plan request online yourself OR over phone at Call & Trade desk.OR you can contact your RM/ Dealer for placing the request in any particular stock.
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