There are many payment banks like paytm, airtel etc which are allowed to have small deposits and enable payments. Can we link these accounts with trading account?
It would depend on the broker’s internal policy.
At Zerodha, we aren’t mapping these accounts since they don’t have an MICR (this is what we’ve experienced). Depositories have kind of made it mandatory to upload MICR details along with IFSC. If MICR details are available, it shouldn’t be a problem to link a payments bank account.
Thanks for the reply.
It would be interesting to see paytm strategy with payments bank and trading account. If they can launch 3 in 1 account with cheque book facility and discounted brokerage rates down the line, it will be great for the sector.