CDSL unavalibility

[nithin]

@saurabhshares

Is there any possible holdings can be compromised. I am assuming there would be hard backup from time to time. but that may not be latest. I basically mean to ask can our holdings be stolen from cdsl?

Holdings can’t really be stolen like in Crypto. If somehow shit hit the fan and the accounts got compromised, stocks can be only moved from one CDSL to another CDSL/NSDL account. So the stocks will remain in the depository ecosystem itself and in their control, they can’t be moved to say an account in the Bahamas.

@GB26

I guess yes, technically possible I mean. When something is stored as code, it can be erased, unless, of course there are multiple copies, stored in different places, which the perpetrators don’t know of.

Thinking out loud

Yeah, there will be external hard disks not connected to the systems that act as a backup as well. I guess CDSL will soon share an RCA (Root cause analysis) and all the backups in place after this incident.

@is_this_overvalued

@nithin Does zerodha have any long term plans to switch to NSDL after this incident?

Not as of now. This could have happened to anyone, so no guarantee that tomorrow it can’t happen to NSDL. But after this incident, I am sure everyone will be extra cautious.

@jhakkastrader

@bhuvan I recently applied for 7.54% 2036 Government securities in the RBI auction via coin. Its interest payment due date is 23rd November (wednesday). Normally g-secs are credited to demat on Monday. will there be any delay in credit of gsec due to CDSL issue?? It concerns me because if g-secs are not in my demat by wednesday, I may not receive the interest on 23rd November. Almost 3.77% interest has been paid at the time of allotment as component of dirty price.

I don’t think anything will change and you should get all credits as scheduled. We got lucky that this incident happened on Friday. All settlements are happening today (Sunday) as if it was a Friday.