@zerodha Why your team recommends forcefully to sign PoA when I intend only DDPI as per recent circular from sebi? This is unacceptable
This is what our team replied to me.
Why collect PoA if we’re already collecting DDPI? DDPI limits debiting shares from investors’ accounts ONLY for secondary market transactions. This means if a client wants to place a mutual fund redemption or buyback order (for which we’ve to debit MF units/shares), DDPI won’t work. For this, we’ll still need to collect PoA from the client.
But that said, we are seeking a final confirmation from CDSL for trust accounts which will solve the above issue; once that comes in, we will remove POA from everywhere and just have DDPI.