Insufficient balance of XYZ scrip (EDIS issue in Mero Share)
Mero Share sometimes prompts an issue as “Insufficient balance of XYZ scrip” during the time of share transfer using the Mero Share App or web application. You might also have faced the same issue while transferring the shares that you have sold. This is an uncommon settlement issue in Mero Share but can be resolved quickly.
This is not a big issue, and you don’t need to worry a lot about the “Insufficient balance of XYZ scrip” issue in the Mero share as it can be fixed with a few steps that you need to perform. A lot of things cause the issue, and hence you need to check the particular cause of the issue. This is popularly known as the “EDIS issue of Mero Share.”
An insufficient balance of script is often shown if you don’t have the actual balance of shares to transfer that you have sold. For example, if you have ordered to sell 100 units of ABC company scrip but you have only 80 units of ABC company scrips in your portfolio. That means you have already sold more shares that you don’t hold. This issue is usually found when you perform manual trade (without using an Online TMS account but by a telephone call).
If this is the cause of your issue, you can find it by checking the number of free shares of that particular company from the “My Shares” tab of the Mero Share Dashboard. If you have confirmed the issue, you need to immediately contact the broker about insufficient units of shares.
But what if you have the exact number of shares, and this has not caused the EDIS issue? When you have enough units of shares, and though you are facing the same issue, you need to confirm that all your sold units are in free balance. If you have pledged shares but are ordered to sell those shares, you cannot transfer those units of shares.
That means you have kept your shares as collateral for claiming a loan and have been included in the freeze balance section in the Mero Share account. (What are free balance, freeze balance, and pledge balance?) This can be another reason you are facing the issue of insufficient scrip balance in Mero share.
To confirm if this is the real cause of the issue, you need to check through the “My Shares” option from the Mero Share dashboard menu. To solve this problem, you need to immediately contact your bank to assign a request to remove those units of shares from the mortgage balance or pledge balance. You must also order the bank to keep another company’s scrip in your pledgor account.
If you have confirmed that the above two reasons are not the actual cause of the issue of “insufficient balance of scrip,” you need to check whether you have renewed your Demat account and Mero Share account. Sometimes, delays in the renewal of Mero Share and Demat accounts or the expiration of the accounts lead to such issues. In that case, you need to contact your bank and apply for Demat and Mero Share account renewal. The fee for Demat renewal is Rs.100 per year, and for Mero Share, it is Rs.50 per year. You can also renew your accounts online through E-Sewa.
When you go through online renewal, it is quick, and you can quickly transfer your shares. But, through the bank, it takes time as you need to fill in the voucher, and the staff will email the voucher scan copy to send to the respective capital. You can also request them for urgent renewal specifying the issue you have been facing.
If these solutions don’t help you, you can transfer the shares through paper. That means you need to contact the broker’s office with the DIS slip you obtained from your bank. Carry the DIS slip with you and visit the broker’s office for the manual transfer of shares through the DIS slip.
Suggested to read: Mero Share Common Issue
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