When IMPS is supposed to be an instant fund transfer why does the Zerodha team take time to update funds in my account?

Off late Zerodha takes a while to update funds transferred via IMPS in my account, can anybody explain why?

The issue with IMPS is that, most banks still don’t send us the account number along with the IMPS transaction. So if you have transferred Rs 25000, our feed will just read Rs 25000 inward from your bank and not your bank account number. If there is a bank account # we map it to the client ID and update funds.
In this case someone has to then manually check the screenshot that you have updated on Q, which has to be then approved by another person before credit is given to the trading account. Unless all banks send the account number along with the IMPS transaction (RBI is making it mandatory), this fund updation process will not be truly automated. We are also probably one of the very few brokers who support IMPS inward transfers with all these manual work and risks.


When you transfer funds directly from your bank account, we have to run a process to figure the client ID mapped to the bank account number and then update the funds in the respective client account. If you want funds to be instantly credited, best to transfer funds using our payment gateway page. When you do this, we know which client ID initiated the transfer and hence the credit is instant.

If you are using IMPS to save on our payment gateway cost, we also offer UPI which is free and credit is instant. If you do the transfer directly from the bank account, it is impossible to give instant credit.

RTGS works very well with Z. Usually amount reflects in balance within a few minutes.