Nowadays, many people are getting connected with the trend of the share market. If you are an investor or trader, you definitely know about the Meroshare app or website. If you have used the Mero Share application quite a few times, then you must be familiar with the Mero Share interface. But you might have come across the one message that says “BO Level Frozen for Debit”. So, in this article, I am going to show you how to solve this problem.
What is BO Level Frozen for Debit?
The “BO Level Frozen for Debit” message occurs when your Demat Account is expired. In this case, the shares can only be credited to your account; they cannot be debited. You can only buy shares, but you cannot sell them.
If your DEMAT account is expired, then all of your shares will be in the “Freeze Balance“. Another reason the account should be frozen is if the account is minor and the account holder has completed 18 years. In this case, the bank account should be converted into a major and DEMAT should also be updated by visiting the respective bank along with the guardian with the required documents (a citizenship certificate, a birth certificate, the guardian’s citizenship certificate, and a PP photograph).
Another reason for an account freeze is the unpaid annual fee. To solve this issue, you just need to renew your DEMAT account. There are two ways you can renew your DEMAT account. Either by paying the renewal amount directly into the respective bank account or via digital payments
The annual renewal fee for a demat account is Rs. 100.