I received the confirmation mail from Zerodha fund house, with NAV of 5th, when the payment was made on the 4th Jun 2024, at 12:17PM via UPI. What is happening here?
There was a delay from the payment aggregator to report the payment to the exhange hence a few orders have been affected here. We have been following up with them and waiting for the RCA.
Unfortunately after the pooling mechanism going away in 2022 even the funds are directly transferred from your bank account to the clearing corporation, here the exchange does not get to know from whom the payment has been received till the payment aggregator reports/ uploads the data into the exchanges systems. Here one of our payment aggregator partners faced an issue due to which this issue occurred for a few orders, and this is across all brokers and not only Zerodha.
Hi Neelesh,
Can I fetch my eNPS PRAN account data from the coin ? If this isnât in your todo list, can you please discuss with your colleagues about the possibility in doing it?
What happened here @Neelesh
Is the customer responsible for the 3% difference in purchase price? For some of us that makes a difference 
What can be done for those who ended up pulling the short string
you are very bad for mutual fund investor ,
see when the market down we happy to invest , i invest lot of mutual fund at 10.50 am on 4th june and 5th june all mutual fund is executed after 2.26 cut of time on 4th and 5 th june
i will not get 4th nav when the market went down 8% next day market recovered 4%
we loose an oppurtunity to invest in DIP in zerodha - even i invest in icici its executed on same day
if you have problem with razor pay ask him to claim and setteled extra units with us , we are not a slaughter goat for your glith
i need a answer - even 5th june also its executed after 2.26 pm what a shut
always headache with zerodha - sometime zerodha boiling my blood
again theree is pending payment again i make payment on night , i never seen in order page , whats going on in Coin platform i dont know
Please tell me your cut off time @nithin ASAP
LOL, unfortunately, I have no control over the payment aggregator and I donât even know what RCA means, and by what you are telling us is not an issue, itâs a blunder. How I read this is your payment aggregator uploaded a wrong report or an incomplete report.
Now my question to you is, what is the possibility that the payment I made to the clearing corporation and as per your payment aggregators report my units went to someone else?
I am not here to play the blame game that this happened with all brokers and not just zerodha, I am looking for the next course of action, a solution, a fix so that this does not happen again. This can not be brushed under the carpet, everyone in the world knew beforehand that 4th is going to be a volatile day and it should have been all hands on deck.
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Knowing this is how the system works,
perhaps one option would be to try not to time the market purchase to a day.
(apparently that âopportunityâ does not exist in the current system)
I faced the same issue. I think we need to mass report this is SEBI as Zerodha has formed a consistent pattern of not taking responsibility for their business decisions and pushing the blame to other vendors. @nithin doesnât make a penny from Coin as a platform and hence has clearly derelicted from his duty by not ensuring a stable payment aggregator was contracted. I say this because for 24hrs no one knows what happened to the clients funds and moreover Zerodha users have been getting the units allotted at NAV of 5/6/24 instead of 4/6/24 which is lot higher. This is a questionable business practice and should be brought to the attention of market watchdog.
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Sadly I guess, Yes. And eerily these things never happen to benefit retailers. Below is a conversation with the support team when they did non fill my Nasdaq fof order right on the day it popped up 7.4% in Novâ22 (and very conveniently returned my SIP amount)
Yes put the blame on aggregators. Its your responsibility we dont pay aggregators we pay zerodha. Is this how responsibility & ownership of pointing fingers work. Atleast have the guts to own it.
@nithin - Would request an answer for the same.
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What system, here the system is, buy at X but execution will be at Y, this is not a system.
No, this is more of a philosophy CVS, everyone has a different way of entering and exiting an investment. Everyone has a different risk appetite, and different levels of buying, you might like to get in today, I wanted to get in on the 4th. Here;
Now, I like to buy when the market falls, that is my strategy, yours might be different and your strategy works 100% I am not judging it. What feels wrong here is you trying to judge other persons time and date of order placement as timing the market.
Here my strategy failed because my broker or its payment aggregate did not back me, now that is the issue.
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There has to be a solution. If this is a problem of some outside agency then maybe zerodha can take an initiative to ask that agency to figure out a solution so that this doesnât happen in future. Or maybe complaint to SEBI so that SEBI should force that agency to figure out a solution
@Neelesh @nithin No customer is ready to bear this 3% price deviation even u guys know that was a really sweet opportunity and someone has to take accountability for it
contact authorities or Razorpay but the customer group affected shouldnât be the one to bear the difference
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Talking in popular terms -
- Had you backtested your strategy?
- Did you know that placing such a order is guaranteed to execute?
Looking back at this instance, it is obvious now,
that what happened - (delayed order execution) was not something one knew/anticipated.
Looking forward, knowing that this is how the current system works,
i suppose the âstrategyâ that was employed above,
needs to be saved in the back-pocket for now
and not deployed until the system changes.
PS: Stop looking at brokers or exchanges to blame for oneâs ignorance.
It is not the brokersâ responsibility to educate individuals of all the risks involved.
(Nor is it upto the broker to provide solutions for the entire wide array of risks that individuals take. Sure, some brokers may provide, and they would grow/propser for such clients.)
(âŚor maybe all Stocks and MFs should
come with more grotesque warnings like cigarette packets these days 
)
PPS: Since you clearly feel misled by Zerodha about some sort of guaranteed order execution,
have you reported it in SEBI SCORES (or some equivalent grievance redressal system for Mutual-Funds) ?
Just saying that this is how the system works is not enough.
Someone is controlling the system. They can obliviously modify the system.
And we should request them.
Just accepting a shortcoming is not a good approach in my opinion.
Personally, I donât have much knowledge about the system. But I am sure many people here have a lot of knowledge and experience.
agreed.
Letâs also focus on expending our attention/energy productively,
where it can actually make a difference,
i.e. in oneâs circle of control/influence.
- Stop deploying strategies with a now known point-of-failure.
- or account for the additional risk and tweak the strategy accordingly.
- Report in appropriate systems in place to handle grievance and provide accountability.
Appreciate the sharing of the reason Neelesh. Perhaps you can switch from Razorpay when it is down in the future. Assuming that was where the delay was?
There are some companies that support switching between different payment aggregators depending on their downtime. I think Cashfree is one of them.
But it is still very disappointing to lose out on the massive gains on 5th.
Seems like someone wanted to earn float for a day on the massive inflows on 4th 
Going by the comments I see that coin had some sort of a revamp in the system 2days back based on the updates provided. Perhaps some bugs were there with their upi flow systems which led to this instance. What angsts me is that at some point with enough pressure Zerodha will come out with a RCA and convincingly shift the blame to the payment aggregator.
With MFs my discretion ends with the quantity,scheme and when I want to buy rest all lies with the fund manager. Zerodha has an economic calendar to track events in capital markets. Similarly an event took place on 4th of June and Zerodha incapacitated its users. There was no communication or bulletin update which led one to believe that things are working as they should have. @Neelesh @nithin Pull up your big boy pants and act like a serious business, Zerodha is no longer a small scale startup that you can keep making petty mistakes like not having multiple payment aggregators to switch for a firm of your size. The business decisions you make bear consequences on peopleâs savings and investments. In the long run of course this NAV issue wont matter, but when my corpus gets bigger I would need to think if I need to keep my investments with bigger institutions or a broker who keeps crying foul every time something goes wrong. I mean how many UHNIs do you think would trust Coin against ICICI or HDFC securities with their wealth
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