● To change the registered mobile number or email address with Zerodha offline, courier the

Account Modification Form (PDF) to Zerodha.

● There are no charges for changing the contact details.
● Non-individual account holders can modify the contact details only offline. However, individual
account holders can do it online
● Zerodha does not call users and ask for personal or other sensitive account-specific information
or provide advisory services or stock tips.
● Calls are made if there are issues with account opening, margin calls or other compliance-related
requirements.
● Transferring shares due to the shareholder's death to their legal heir(s) is called transmission of
shares. It is a legal requirement, unlike the transfer of shares, which is voluntary. The shares are
transmitted by forwarding necessary documents to the company.
● On registration of the transmission of shares, the legal heir(s) entitled to the transmission of
shares becomes the company's shareholder, is entitled to all the rights, and is subjected to all
liabilities as a shareholder.
● Dormant account holders will continue to receive cash and stock dividends. However, to
participate in buybacks, OFS, rights issues, etc., the account must be reactivated by verifying the
KYC details first.
● Even if primary market or corporate action orders are placed, the account can still be marked
dormant.
● NRI and non-individual account holders must only send physical documents if the address needs
to be updated. This should be done before completing the online reactivation process.
● For NRI and Non-individuals, the authorized signatory has to complete the IPV.
● A negative balance of up to ₹300 will not be displayed on Kite.
● AMC for IL&FS demat (accounts opened before 15th Sep 2015) : ₹400 + 18% GST
● The Annual Maintenance Charge (AMC) should be cleared with IL&FS for the demat account to
be closed. AMC, which has already been paid at the beginning of the year, will be reversed on a
pro-rata bases for the year.
● Any AMC is due for the IL&FS demat account is posted on the Zerodha ledger when the IL&FS
demat account is switched to Zerodha. To pay the AMC due at IL&FS and to avoid it being posted
to the Zerodha ledger, visit ilfsdp.com/eko-pay.asp.
● The process for transferring shares from an existing CDSL NRI demat account to a Zerodha demat
account is the same as a residential demat account transfer.
● The PIS account linked with Zerodha and the other broker must be the same. If they are not,
obtain a No Objection Certificate (NOC) from the bank that has issued the PIS account linked to
the other broker and submit it to the bank that has issued the PIS account linked to Zerodha.
● The NOC contains information on the trades placed with the other broker and helps ascertain
capital gains.
● If shares are to be transferred to an NRE account held with Zerodha, the existing NRI account
with the other broker must also be an NRE account.
● Shares from an NRO or resident account can be transferred to an NRO Non-PIS account.
● The bank must update the buying price of the transferred shares in the PIS ledger. This also
results in the delayed settlement of funds to be credited to the PIS account.
● Zerodha does not facilitate opening NRO (PIS) accounts.
● A Zerodha account can be converted to a 3-in-1 account if the primary account mapped to the
Zerodha account is an IDFC FIRST Bank account.
● A 3-in-1 POA is required only if the IDFC bank account mapped to the Zerodha IDFC FIRST bank
3-in-1 account is a joint account.
● There are no additional charges to open a 3-in-1 account or get your existing account converted
into a 3-in-1 account.
● Anyone who is 18 years or older cannot open a Zerodha account if they have a minor PAN card.
The minor PAN card will have to be updated to a regular PAN card to open an account.
● Minors cannot buy stocks. Instead, the guardian can either transfer existing stocks in their demat
account or buy stocks and transfer them to the minor’s account. The guardian can initiate the
transfer process with the Client Master Report (CMR).
● The CMR copy is sent to the registered email ID once the minor account is opened.
● The guardian should sign all the forms and supporting documents of the minor.
● The guardian and the minor should be in the same video while performing the IPV.
● There are no account opening charges for a minor. However, a cheque in favor of Zerodha
Broking Limited for ₹300 is to be paid upfront as Account Maintenance Charges (AMC).
● If the AMC cheque is not submitted, the charges will be deducted from the guardian’s trading
account. If the guardian does not have a trading account, a link will be sent to the registered
email ID to pay the AMC charges.
● Currently, minors cannot apply for IPOs through Zerodha since they don't have access to Kite and
Console logins. However, minors may utilize net banking ASBA and provide their demat account
information to apply (subject to the bank's policies on minors applying for IPOs).
● If the minor uses someone else's bank or demat account, the RTA may decline the application.
● More than one demat account can be opened, i.e. an individual and a joint demat account.
● Even though two demat accounts can be opened, only one trading account can be opened per
client, and it will be linked to the individual demat account.
● While closing the account, Locked-in shares, mutual funds, and Government securities can only
be moved to a CDSL demat account.
● Shares can be transferred only within the same Beneficiary Owner (BO) status. For example,
shares can be transferred from an individual account to another account, not from an individual
account to a joint, NRI, or HUF account, and vice versa.
● Shares can be transferred only within the same account holder(s). For example, person A having
an individual demat account can transfer shares to person A. If persons A and B have a joint
account with A as the primary holder and B as the secondary holder, they can transfer shares to
another joint account held by A and B only and not to a joint account held in the order B and A.
● A joint demat account can only be closed through an offline method. Primary, secondary, and
tertiary holders (if applicable) have to sign the closure letter.
● The account closure will be processed in seven working days.
● A joint demat account can only be opened offline. There can be a maximum of three account
holders, including the primary account holder.
● In a joint demat account, the tax liability on the P&L is on the first holder.
● If a joint account is being opened to have a nominee, an individual account can be opened
instead, and the nominee can be added online.
● You can link a bank account in which you’re a joint holder. The procedure is the same as linking a
normal single-holder bank account.
● If you are adding money to your Zerodha account from a joint bank account that is linked with
multiple Zerodha trading accounts using IMPS, NEFT, or RTGS, send a soft copy of the bank
statement that shows a debit toward the Zerodha account by creating a ticket and mention the
Kite user ID to which the funds need to be credited.
● When funds are transferred from a joint bank account that is linked to multiple trading accounts,
Zerodha’s system will fetch multiple trading IDs and the credit has to be manually mapped. To
avoid these issues, please transfer funds using a payment gateway or UPI. This doesn't apply if
you’ve added money using the payment gateway on Kite.
● The NSE circular for F&O (WEB) and Currency Derivative Segment (CDS) (WEB) specifies that if
the difference between the trigger price and the limit price in Stop Loss - Limit (SL-L) orders
exceeds the allowed limit, they will be rejected for all stock F&O, currency F&O, and index F&O
contracts. This rule applies to both new orders and modifications made to existing SL-L orders.
● The allowed limit for each instrument is calculated using a specific formula that takes into
account the trigger price, X%, and a minimum absolute range (in ₹) based on the type of
instrument.
● Nifty Midcap contracts are blocked from trading because they are illiquid.
● lliquid contracts tend to have wide bid-ask spreads. A bid-ask spread is the difference between
the highest price a buyer is willing to pay and the lowest price a seller is willing to accept.
● Because of the limited trading activity in illiquid contracts, prices can be more volatile, which can
result in sudden and large price movements.
● The exchange's client-wise position limit for the MIDCPNIFTY contract may be lower than its lot
size on some days. As a result, traders are blocked from taking new positions or closing existing
ones on such days.
● F&O orders can be executed partially or with significant price differences due to liquidity and
market volatility.
● When an account is opened, a copy of the RDD is sent to the registered email address. The Risk
Disclosure Document (RDD) contains important information concerning risks that all investors,
whether individual, non-individual, retail, or institutional, take while trading or investing in any
capital market instrument in all situations.
● Zerodha does not display XIRR and CAGR for equity investments due to a few reasons. CAGR is
appropriate when there is a single investment, and the performance has to be measured after a
few years
● In the case of regular investments, the right metric to use is XIRR
● The issue with calculating XIRR is that all the holdings and investments since inception have to
be considered, which is complicated further by the inclusion of intraday trades that do not
 contribute to long-term returns, and doing this at scale across millions of clients with billions of
rows of data is a technical challenge.
● Zerodha is working on a solution for this, and a comprehensive performance metric will be
available on Console soon. In the meanwhile, XIRR can be easily calculated in Excel using a trade
book.
● Zerodha displays XIRR for mutual funds investments on Coin along with other details.
● PIS account: Funds are settled to the bank account on T+1 and are available for trading from T+2
onward since it involves RBI reporting and TDS computation by banks.
● Non-PIS account: When stocks are sold, the funds are settled in the trading account, but only
60% of the proceeds will be made available for trading on the same day (T-day). The remaining
funds will be available for trading the next day (T+1) after Zerodha blocks provisional TDS on
capital gains.
● The provisional TDS is released at the end of the day on T+1, and the entire sale proceeds
become available.
● NRO account holders who trade in F&O have their trade settlement and margin reporting
managed by Orbis, the custodian.
● A Systematic Withdrawal Plan (SWP) can be used to make regular, periodic withdrawals by selling
a part of the holdings. While Zerodha does not provide Systematic Fund Withdrawals (SFW) or
Systematic Withdrawal Plans (SWP), clients can use the stock SIP feature.
● DDPI/POA is necessary to execute SIP sell orders.
● The F&O contracts of stock enter the ban period when the open interest of any stock crosses
95% of the Market Wide Positions Limits(MWPL). The ban is reversed only if the open interest
falls below 80%.
● New positions are not allowed for any stock F&O contracts in the ban period. However, exiting
the open positions is allowed. However, the stock can still be traded in the cash segment where
no such limits are applicable. The list of securities under the ban period can be found on
Zerodha’s margin calculator (WEB).
● Brokers are required to display all applicable charges on the order placement window as per
exchange guidelines (PDF).
● STT is not levied on Liquid BeES and Liquid ETFs. However, it is temporarily displayed in the
charges section of the order window.
● Basket Orders: Up to 20 orders can be included in each basket, and a total of 50 baskets can be
generated.
● To open an Orbis custodial account, fill out this form (DOC). Zerodha has partnered with Orbis
Financial, a SEBI-registered custodian, to trade in restricted nifty and bank nifty option strike
prices.
● Only index and stock F&O and commodity trades are allowed by default. Clients with an active
CP code can create a ticket to enable equity and currency segments. Clients must e-sign the
equity agreement, which includes the POA. The segments are enabled within 48 working hours
of e-signing. Even if the equity segment is enabled, the holdings cannot be pledged for collateral
margin for trading. The trading charges remain the same as a regular Zerodha account
● Funds up to ₹10 lakhs can be added using UPI and net banking.
● The fund statement and ledger reports are not available on Console.
● The trade obligations can be viewed only on the margin statement sent by Orbis and not on the
contract note sent by Zerodha.
● Withdrawal requests must be sent to Orbis and cannot be placed on Console.
● Clients can disable the custodian account by creating a ticket with a reason to deactivate the CP
code and migrate back to the Zerodha account.
● To convert securities from electronic form to physical form, submit the following documents:
● 2 Remat Request forms for each ISIN, scrip, or fund (PDF). Remat forms must be signed in
Signature as per RTA Records and Signature as per DP Records fields.
● Self-attested address proof.
● Self-attested PAN.
● ISR1 form (PDF).
● SH-13 RRF nomination form (PDF).
● Disclosed quantity feature while placing equity orders allows only a part of the total order
quantity to be disclosed to the market as shown in the market depth. Once a part of the order is
executed, the next part is disclosed to the market.
● This feature can be used while placing large orders to reduce impact cost and to get a better
execution by disclosing only a portion of the large order in the best bids and offers in the market
depth.
● Impact cost represents the difference in the actual traded price as compared to the price of the
instrument when the order was placed.
● As the size of the order increases, the impact cost goes up as well. Traders with large order
values end up losing a lot more money to impact costs as compared to all other charges
combined (STT, Brokerage, exchange transaction, etc).
● Disclosed quantity can’t be used when trading futures & options but, Iceberg orders can be
placed instead.
● NSE/BSE (Equity): Disclosed quantity cannot be less than 10% of the order.
● CDS/BCD (Currency): Disclosed quantity cannot be less than 10% of the order.
● MCX (Commodity): Disclosed quantity cannot be less than 25% of the order.
● Currency derivatives are F&O contracts that are traded on the exchanges. They are similar to the
stock F&O, but the underlying of these contracts are currency pairs (i.e. USDINR, EURINR, JPYINR
or GBPINR) instead of stocks.
● The currency derivatives segment of NSE provides trading for these instruments:
● Currency F&O on 4 currency pairs.
● Cross currency F&O on 3 currency pairs.
● Interest rate F&O on Government Securities (G-Secs).
● 91-Day Treasury-Bills(T-bills).
● Overnight MIBOR (ONMIBOR).
● Intraday (MIS) is allowed for currency futures, whereas it's not allowed for currency option
contracts.
● Currency derivative contracts are settled at the RBI reference rate.
●
● Some banks don’t allow eMandates to be created from joint bank accounts. In such cases,
standing instructions can be created by adding Zerodha’s account as a beneficiary to
automatically transfer funds on predefined dates from the net banking portal. See Zerodha’s
bank account details.
● Auction orders currently cannot be placed in BSE’s auction market.
● The auction usually takes place after 2:00 PM and lasts only 30 minutes. Only shares settled in
the demat account can be sold during the auction. T1 quantities cannot be sold.
● Exchanges don't allow order modifications during the auction. Instead, the order must first be
canceled, and a new order with the updated price and quantity must be placed during the
auction session.
● The auction markets will remain closed on the settlement holidays.
● There are no extra charges for participating in the auction market. Auction orders are treated as
regular equity orders.
● DP charges will be levied twice if a stock is sold in both normal market hours and the auction
market due to separate settlements.

INSIDE

● We have sent the below email to 9.7L clients whose email & mobile validation is pending at KRA.
● If clients claim that their old contact details (mobile or email) are available in CVL KRA and they
are unable to get validation completed, follow these steps:
● A. Check if the latest email or mobile details are updated in CMR or ST.
● B. If they are, ask the client to complete a re-KYC address modification process.
● C. If not, update the contact details in console 36 and then proceed with the Re-KYC address
modification process
● Once the modification request is approved by ACOP, we will raise the modification in the KRA
system. The verification process can take up to T + 10 days, but it generally gets verified or
rejected within 3–7 days.
● We have received a 3 months extension for existing KYC validation. The new deadline is 17th
Aug’23.
● The actual clients who updated their Re-kyc after our mail communication was 1.8k clients and
4.6% of the total clients (partner payout)
● We are introducing a new feature called “Verified P&L.” This feature allows users to publicly
share their Console P&L report, which cannot be manipulated. Users will share the P&L report
via a link, ensuring its authenticity.
● Clients can choose what information to share, including their full name, first name, or a masked
name, along with their Kite profile image. They can also select the segments and the time frame
 to share their P&L. Additionally, have the option to add a nice bio and a custom link and to
display their actual trades.
● Clients can share the link anywhere, and people can view their P&L without having to log in
through an email or a trading account. Publishers can make changes whenever they want, and
the changes are reflected instantly.
● We have invested Rs 6cr for a 3.24% stake in Peesafe
● We have invested in Human Edge, founded in 2020 by Dr. Marcus Ranney, which aims to improve
the overall health of employees by providing customized and easy-to-understand health and
wellness solutions. Their approach is based on a combination of data analysis, biological
expertise, and technology.
● There are 3 REITs already listed in India. But until now, one had to use net banking or physical
ASBA to apply for these IPOs. In June 2022, SEBI allowed the UPI mechanism for REIT IPO
applications. Nexus REIT is the first IPO to be launched after the rules were modified.
● All REIT IPO applications through UPI are in the NII category. Which means -
● Applications cannot be canceled.
● Application bids cannot be revised downwards.
● The maximum application size is Rs 5 lakhs like other IPOs in the UPI mechanism. Here is the
note we display on the application window:
● Mandate deletion/cancellation (from the UI) is a work in progress. This should be live by next
weekend along with the cancellation of mandates for cases where the bank account is deleted
from CMR.
● We are live with naming a mandate on Coin and using a secondary bank account for mandates as
well. When a user is redirected to the cashier to complete the mandate process they can name
the mandate and select the bank account from which they prefer to complete the payments.
● We have invested in Null Pointer a financial data insights platform founded by Bala and Akshay.
They were last working as consultants at ICRA helping build credit default/prediction models.
The company is still in the very early stages, and they have built a bunch of tools.

QOD’s

● If the quarterly settlement date is the 6th of April, why were funds auto-settled to me on the
4th?
● A stockbroker is also required to settle clients who have not traded in the last 30 days. During
the quarterly settlement week, we reduce this inactivity period check to 5 days. The reason to
perform this exercise of settling out inactive clients early is to ensure during the final settlement
on 6th April, funds hit all our customers as soon as possible. A high count of transactions can
choke transaction and reconciliation processes at banks as well. Learn more.

● Why does Zerodha charge an AMC when some other online brokers do not?
● Zerodha levies a nominal charge of Rs.300 + GST per year for the maintenance of your demat
account. However, this charge gets waived if your account is classified as a Basic Service Demat
Account - BSDA and the holding value is up to Rs 50,000. Learn more.

● Why am I unable to see my mutual fund holdings on Kite?

● Only the holdings that can be traded in secondary markets, such as stocks, ETFs, and bonds, will
be visible in your Kite holdings. Open-ended mutual funds in your account will be visible in your
Coin holdings, and you can check them from the Console as well.

● QOD - 12th Apr 2023

● What is the new common equilibrium price for IPOs?

● On the listing day, the volume weighted average price [VWAP] across both NSE & BSE will be
considered to find the common equilibrium price i.e. the listing price of the stock. This is
contingent on some conditions. Learn more.

● How can I trade in interest rate derivatives on Kite?

● The Currency Derivatives Segment (CDS) should be enabled for the Zerodha account to trade
interest rate derivatives on Kite. Learn more.

● I hold ADRs of Tata Motors. How can I transfer them to my Zerodha account?
● You can use your demat account details to accept the receipt of shares when Tata Motor's ADR
custodian is converting the shares. Learn more.

● QOD - 19th Apr 2023

● How can I surrender my SGBs to RBI after the 5th year?

● You can redeem SGBs prematurely on coupon payment dates after the 5th year from the date of
issue. You are required to fill up the redemption form (PDF) and courier it to our head office
address. The early redemption request will be processed only if we get the redemption form at
least 10 days before the coupon payment date. Learn more.

● Can I transfer my SGBs from my Zerodha CDSL account to an NSDL account?

● Unlike other securities, SGBs cannot be transferred to an NSDL demat account through DIS or
the easiest method. You are required to submit a rematerialization request to debit the SGBs
from the transferor DP and submit a dematerialization request to credit SGBs to the transferee
DP along with other documents. This process is termed a value-free transfer. Learn more.

● How often is a Re-KYC required?

● Re-KYC followed by IPV would be required in case your account gets marked as dormant if there
is no activity in your trading account for 12 consecutive months, during income proof updation,
and IPV when there’s a change of contact details more than 3 times in the last 90 days.

● QOD - 26th Apr 2023

● Are there any charges if I use my bank's net banking portal to transfer funds to Zerodha?
● We do not levy charges for transfers made through IMPS, NEFT, or RTGS. A charge of Rs 9 plus
GST is levied if the funds are transferred using Kite’s instant payment gateway.

● Where can I track upcoming NFOs?

● AMCs (Asset Management Companies) usually display upcoming NFOs on their website. On Coin,
you will only be able to check and apply for ongoing NFOs. Learn more.

● How can I add separate tags for different parts of my stock holding?
● You can add tags to track the performance of your existing holdings on Console or while placing
new trades on Kite. A new tag can be created to add to different scrips or holdings purchased on
different days. Click here to learn how you can use the tagging feature for your goals.

● QOD - 10th May 2023

● Can I apply for the NXST IPO under both the retail and HNI categories to increase the allotment
chances?
● Unlike usual IPOs, the retail investor category is not available for the NXST IPO which is a REIT
issue. You can only submit the bid application in the Non-Institutional Investor category with a
maximum bid size of Rs.5 lakhs in Kite. Learn more.

● How can I place NRML orders in the cash market?

● The NRML (overnight) product type is used in the F&O segment to carry forward the positions.
For the cash market, you can select the CNC product type if you wish to take delivery of the
stocks. Learn more.

● If the required margin for short options increases from Rs. 80,000 (BOD) to Rs. 1 lakh after the 3
pm SPAN update, will I face a shortfall penalty?
● We have stopped updating the SPAN files during the day, owing to the recent change in the
upfront margin calculation. Learn more.
● No, both peak and EOD penalties will not apply for the day, as the BOD SPAN file is considered
for margin reporting. However, if you carry the position to the next day and don't bring in the
additional funds before 9.15 AM, the next day's peak margin penalty can apply