Indian on-line brokerage platform Zerodha went down early morning on Monday after it was hit by a technical glitch. The difficulty was resolved later throughout the day. Zerodha is the second-biggest on-line brokerage platform in India.
The corporate acknowledged the problem on social media platforms. “As a consequence of a connectivity concern, a few of our customers have been intermittently going through points with order placement on Kite.This concern is now resolved. We remorse the inconvenience precipitated,” Zerodha mentioned on X, previously Twitter.
Some affected merchants have been seen asking for compensation for the loss on social media platforms.
By the way, earlier this 12 months, Zerodha Co-founder and CEO Nithin Kamath had mentioned that it’s not possible for tech firms like theirs to have zero glitches because the enterprise is time delicate and caters to numerous customers. Within the 12 months 2023 alone, Zerodha admitted to at the least eight technical glitches with points various from these regarding login on Kite app, show of orders and positions in addition to order placements.
To minimise the impression of any potential points, he mentioned that the corporate has made vital architectural adjustments over time. “This is likely one of the the explanation why any incidents that occur have an effect on a small % of customers. However, given the demographics of our clients, we are inclined to get disproportionately giant social media consideration and press protection. The alternate knowledge nevertheless signifies that now we have the least complaints among the many prime brokers as a proportion of our energetic clients on the exchanges. All that mentioned, minimising the likelihood of any points is all the time on the absolute prime of our record of priorities,” Kamath had mentioned.
Groww too went down final month
Nearly per week in the past, one other on-line broking platform Groww’s companies have been additionally hit by a technical glitch on its buying and selling app. The corporate’s founder Lalit Keshre apologised for a similar later. “Technical points occur in our business, and now we have additionally confronted them up to now; the final main one was on April 6, 2023. And every certainly one of them nonetheless hurts and stays like a scar. Nevertheless, this time, it damage much more,” he wrote
In accordance with NSE knowledge, Groww is India’s largest dealer with 76 million energetic purchasers in December vs Zerodha’s 67.3 million shopper base. The 2 greatest brokers management over 1/third of the market share. Angel One is the third largest and owns about 14.8% of the market share.
The corporate acknowledged the problem on social media platforms. “As a consequence of a connectivity concern, a few of our customers have been intermittently going through points with order placement on Kite.This concern is now resolved. We remorse the inconvenience precipitated,” Zerodha mentioned on X, previously Twitter.
Some affected merchants have been seen asking for compensation for the loss on social media platforms.
By the way, earlier this 12 months, Zerodha Co-founder and CEO Nithin Kamath had mentioned that it’s not possible for tech firms like theirs to have zero glitches because the enterprise is time delicate and caters to numerous customers. Within the 12 months 2023 alone, Zerodha admitted to at the least eight technical glitches with points various from these regarding login on Kite app, show of orders and positions in addition to order placements.
To minimise the impression of any potential points, he mentioned that the corporate has made vital architectural adjustments over time. “This is likely one of the the explanation why any incidents that occur have an effect on a small % of customers. However, given the demographics of our clients, we are inclined to get disproportionately giant social media consideration and press protection. The alternate knowledge nevertheless signifies that now we have the least complaints among the many prime brokers as a proportion of our energetic clients on the exchanges. All that mentioned, minimising the likelihood of any points is all the time on the absolute prime of our record of priorities,” Kamath had mentioned.
Groww too went down final month
Nearly per week in the past, one other on-line broking platform Groww’s companies have been additionally hit by a technical glitch on its buying and selling app. The corporate’s founder Lalit Keshre apologised for a similar later. “Technical points occur in our business, and now we have additionally confronted them up to now; the final main one was on April 6, 2023. And every certainly one of them nonetheless hurts and stays like a scar. Nevertheless, this time, it damage much more,” he wrote
In accordance with NSE knowledge, Groww is India’s largest dealer with 76 million energetic purchasers in December vs Zerodha’s 67.3 million shopper base. The 2 greatest brokers management over 1/third of the market share. Angel One is the third largest and owns about 14.8% of the market share.
