Story of How I lost INR 40,000 by participating in Stock Lending and Borrowing Scheme (SLBM)
Background I came to know about it a bit earlier and there was a lot of paper work that had to be signed. I initially attempted to complete the process by sending it online after filling the forms and scanning them and sending them to IDBI capital official email ids. This was during the height of covid 19, so travel was still limited and work from home was going on. However, it failed as they required office visit in-person for form submission and verification. So, I waited another 1 year. I also came to learn that the scheme is still not popular and I am possibly the first one to apply for this scheme in the entire eastern India region of IDBI capital. I filled the form and resubmited physically. Procedure I needed to go to a specific SLBM page of NSE everyday and export the file in CSV format - https://www.nseindia.com/market-data/securities-lending-and-borrowing Then I needed to filter the spread with a value (not the blank ones) under series -B. SLB is generallay done on the stocks