Recurring Orders

Transaction plans are used to generate orders on a recurring basis. The user can use the transaction plan APIs to create two types of plans -

1. Systematic Plans (SIP/ SWP/ STP)
2. Non-Systematic Plans

What is a Non-Systematic Plan?

A non-systematic plan has the same behaviour as that of a systematic plan, but is not registered as a systematic plan in RTA. Instead it is registered as a series of lumpsum orders generated at the frequency specified by the user during the non-systematic plan creation.

Transaction Plan Lifecycle

1. User creates a transaction plan. The plan immediately becomes active upon plan creation.
2. Once the plan becomes active, installments are generated by FP as per the installment_day and frequency of the plan. Refer Installment Generation Lifecycle section below to understand the flow of installments.
3. Once all the installments of the plan have been generated, the plan state changes to completed.
4. The user can also choose to modify an active plan. Please refer Transaction Plan Modifications for more info.

Transaction Plan Modifications

1. After the plan is active, the user has the option to modify the plan as per his requirement -
   • If the plan is systematic (systematic = true), the user can modify the plan amount.
   • If the plan is non-systematic (systematic = false), the user can modify the plan amount, installment day and number of installments.
2. The user can also opt to pause a plan between a given timeframe. Upon pausing the plan, for all the installments that fall under the time frame, FP generates the installments and marks them as cancelled.

Installment Generation Lifecycle

For every installment of a plan, FP creates a MF order. So the lifecycle of a transaction plan installment is the same as that of a MF order. To understand more about the installment lifecycle refer Orders Lifecycle