Zerodha, one of the largest online-brokerage firms, has informed users that they may face issue with authorising stocks sale. The company said it is experiencing issues with CDSL and are in touch to resolve the issue.
The notice was posted on the official company Twitter account on October 18 and also on its website, stating: “You may face an issue with authorizing the sale of your stocks due to an issue with CDSL. We are in touch with CDSL to have the issue resolved at the earliest.” (sic)
Users also got a notification informing them about the technical glitch.
Further, another CDSL-registered platform Groww also posted about technical difficulties on its app page. The notice states there is an issue with the CDSL TPIN, adding: "CDSL is facing issues in verifying sell orders with TPIN. Their team is working on it."
This is not the first time Zerodha is experiencing down time. Earlier on August 29, 2019, future and options (F&O) traders using Zerodha, faced technical issues between 10 am and 10.40 am. Soon after, the retail broker tweeted about it. The glitch led to users unable to place any trades on the day of expiry, which led to them facing mark-to-market losses.
Prior to even this, Zerodha's OMS faced a technical glitch on February 27, 2019 leaving investors miffed. But according to a reports, the broker is not liable to compensate investors who couldn’t take a position online due to a system failure.
The company said it had more than 4.9 million active clients till September 30, 2021, as per the NSE data.
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