Hi,
As per the current funds managing structure for a Trader or a Investor in Zerodha it is quite complex and also time taking in many cases. I have faced issues with the Funds services of Zerodha.
So, I just wanted to know that is there a plan to include UPI services as funds transfer, I think that should make a lot of things easier on the funds add and withdrawal side.
I second this proposal. In order to do fast fund transfer without charges, we need support for UPI based payments. I tried using UPI app to pay to Zerodha through IFSC based payment, but it failed.
I understand as they cannot track from where the funds are coming thus it is not a technically feasible solution.
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Its more to do with regulatory Requirement, for your further reading:
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Transfer via NEFT/IMPS via net banking is time taking & some time fail, leading to opportunity loss, so explore the possibilities of implementing UPI. There should not be any regulatory challenges because this is from Central Govt of India and fully backed by RBI. The money is transferred from bank accounts, so incase if NEFT via BHIM it is possible to track the source.
Please double check, incase of NEFT/RTGS the source can be very well tracked, not sure about UPI based transactions. If it cannot be tracked why the Govt of India would have not encouraged to use UPI/BHIM.