Just wondering how an unprepared BSE exchange was forced to take the burden of mutual fund purchases with users struggling for the past month… Is there only BSE STAR who is authorised to deal as intermediary? No alternatives to them?
Did anyone place orders on Thursday? I had placed two buy orders before 2pm via ICICI netbanking but yet to receive a confirmation of allotment.
@Bhuvan can you check? I’ve also raised a support ticket - #20220729479450.
Paid sip for UTI Nifty Next 50 on 28th July around 9 AM. Still not received mutual fund units, no confirmation mail or sms yet from AMC. T+1 day is over
I got the NAV of 29th July for an investment i made on 28th before 2pm. While the market moved up 1% between the two dates, maybe i can treat that as an entry load thanks to Zerodha and the oldest stock exchange of Asia?
I still see no sign of the second investment i made on 28th or the one I made on the 29th.
You can trust no one in corporate India. Everybody will put their hands up and say they’re not responsible. End result is that the client is always the loser. Wouldn’t you agree @Bhuvan @nithin ?
I have two Sip and one was paid … while doing for second one there was an error and it went wrong… but the money is debited… kindly refund it
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just wondering … why would someone mess up a system that was working well all this time, without an alternative method that has been tested ! Reading the laments of users, this is very unfortunate. SEBI, BSE and all stakeholders just not seem to be bothered… I had just sent in my papers for converting my mutual funds to demat format… thinking what kind of headaches I am going to face now !
That’s exactly it. There’s just no accountability of institutions in this country.
Hey @Bhuvan, I’ve paid a total brokerage of 1,27,513.70/- to Zerodha from April 2022 to July 2022. Why don’t you consider refunding a part of the same to compensate me? For your information, I still haven’t received any confirmation for the lumpsum investment I made on Friday before 2pm. I’m guessing I’m not getting the same day’s NAV going by how things are.
You’ve got two options, @nithin , either compensate me or just blame it on the intermediaries (in this case, BSE StarMF).
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Thanks for the info @Bhuvan 
Received my refund yesterday night after 16 days.
My kudos to Zerodha support - whom I’ve been interacting with throughout - and who are doing crisis communications like champs despite not having much direct control over the situation. You have some really well trained phone support guys who know how to reassure and de-escalate 
Fwiw, I could suggest Zerodha and other brokers looking into suing BSE for breach of contract (smart lawyers can always find something) or perhaps think of rolling out their own exchange (like IEX did).
@nithin would love a post-mortem blog from Kailash Nadh on how he would’ve handled this complex switch and perhaps the good folks at BSE can learn a lesson
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This has been a messy transition to say the least 
But we are working with BSE to fix this issues and also exploring other options to fix this once and for all. So please bear with us.
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We’re extremely sorry but we are dependent on the exchanges to process the transactions. Please bear with us a few more weeks, we are doing everything to ensure things are fixed.
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I’m sorry, it was a bit uncalled for the way i wrote.
I agree that you’re dependent on BSE for the transactions and aren’t directly responsible for the mishap.
this qna platform is wonderful you can directly tag a owner and make him responsible for his company doing. Beautiful part is he/concerned person will reply to your query.
Although Coin has been disappointment for many missing feature for years. And this sudden change have drastically moved the priority. But still as user I feel connected with Zerodha.
It may seems Im praising but I have equally expressed my discontent too in past
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I agree with you. It’s not easy to do business and full marks to Zerodha for doing the best they can. That’s exactly why I continue to hold both my investment and trading portfolio with Zerodha.
I am still waiting for refund after 25 days of making the payment. I will not be making any new investment using Coin platform until I receive the full refund amount. Ticket number #20220708862473.
Any update on this? Neither refund nor MF units received yet. How can someone have confidence to do MF transactions on Coin if there is no guarantee whether BSE Star MF goes through with the allotment/ redemption of units? 3 days over no updates received
Hi @nithin
Are you guys filing a legal case for this mental harassment and monetory loss of your clients as well as loss of brand image of zerodha?
Or you want the clients to take legal action on zerodha?
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Hey Kanish, really sorry about all the inconvenience. We’re working with BSE to have the issues fixed for good.
The changes of payment for mutual funds circular was give by SEBI on 31 March.
It was effective from 1st July.
Zerodha had 3 full months for accommodating and testing the change.
I think zerodha is to be blamed here and not BSE or SEBI.
As compared to zerodha, groww app is running quite smooth for mutual funds.
Time to leave zerodha?
Actually i am sorry @Bhuvan
I am sure the brand image of zerodha is valuable to you guys too. Trust and faith is completely lost right now and everyone thinks zerodha is to be blamed as payment was done on zerodha’s platform.
What steps are you guys taking to restore the faith? Are you guys going to make a public statement about this fiasco, and file a legal case against BSE for keeping client money for days without being able to track it. Are you in touch with SEBI, making a formal complain and asking for investor protection fund to be used to compensate the loss faced by your clients due to SIP’s not going on time?
The loss of brand image of zerodha definitely is not that cheap that you guys are letting this go easily?
Honestly, i am afriad to make another coin payment even as my SIP dates have come.
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