What is a margin penalty?

A margin penalty is a fee levied when there is an insufficient margin in a trading account. Exchanges mandate clients to maintain ample margins for their trades and to transfer funds in case of a margin shortfall, indicating a deficit of funds or margin in the trading account.  Tradejini does not allow clients to take positions in case of insufficient upfront margins.   But in following cases Shortfall of Margin can occur which is post initiating a trade. 

1. Ad-hoc margin requirements added by exchanges due to volatility.
2. Incremental Physical delivery margins in stock F&O contracts in the last week of expiry
3. Mark to Market (MTM) Losses 

Such shortfalls in margins need to be fulfilled by the client within the deadlines and failure to do so will lead to Margin Shortfall penalty by the Exchanges.

What is a daily margin statement, and how to understand the daily margin statement?

If a penalty is charged for such non-upfront margins, the corresponding debit entry will be posted on the T+6th day in the ledger, as margin reporting is due on T+5 days to the exchanges.