One of the country’s largest online-brokerage firms, Zerodha on Monday informed investors that they may face issues with authorising stocks sale. The company said the issue is related to the Central Depository Services (India) Limited (CDSL) due to which they are experiencing issues with the depository and are in constant touch to resolve the glitch at the earliest.
The company reached out to investors through several communication channels including a notice posted on their official company Twitter handle stating, “You may face an issue with authorising 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.”
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.— Zerodha (@zerodhaonline) October 18, 2021
Apart from informing the users about the authorisation issue on their official website, the brokerage firm further mentioned that users can skip the CDSL authorisation option in case an investor wished to sell holdings in Zerodha’s Kite until CDSL resolves the authorisation glitch.
“You can now skip CDSL authorisation if you wish to sell your holdings on Kite until CDSL resolves the authorisation issue. Please make sure to authorise your holdings by 5 PM,” the online-brokerage firm posted in a following Tweet.
You can now skip CDSL authorisation if you wish to sell your holdings on Kite until CDSL resolves the authorization issue.Please make sure to authorise your holdings by 5 PM. https://t.co/pAsme2S3mh pic.twitter.com/AghqNsXOkQ— Zerodha (@zerodhaonline) October 18, 2021
Other than Zerodha, similar technical issues at CDSL spoiled morning trade for users of Groww as well. The Bengaluru-based online investment platform is also an CDSL-registered entity and they informed their users about the technical difficulties on its app pages stating the issue with the depositories Transaction Personal Identification Number (TPIN) and the team is working on it, the Hindustan Times reported.
CDSL is one of the two depositories in the country, which enables holding and transacting in securities in electronic form as well as the settlement of trades on the bourses. Notably it is the only listed depository in India and it received certificate of commencement of business from the Securities and Exchange Board of India (Sebi) in 1999.