New Delhi: Brokerages Zerodha and Upstox took to social media to inform users about a potential glitch in the Central Depository Services (CDSL) that is affecting stock sale authorisations. This means that when investors try to sell their shareholdings, a technical fault is impacting the sale, Zerodha and Upstox said in their social media posts.
The brokerages said they were in touch with CDSL to resolve the issue at the earliest. Investors can sell their holdings without CDSL authorisation, Zerodha and Upstox said in their respective social media posts.
You may not be able to authorise your sell orders because CDSL services are temporarily down across brokers. We are trying to resolve this with CDSL and will notify you with further updates.
— Upstox (@upstox) December 18, 2024
CDSL glitch resolved
Zerodha later updated users on social media that the fault had been resolved and that the sale authorisation using CDSL TPIN was up and running.
The CDSL TPIN authorisation issue is resolved. You can authorise the sale of your holdings now.
— Zerodha (@zerodhaonline) December 18, 2024
What is CDSL TPIN?
CDSL issues a 6-digit password which can be used to authorise the sale or purchase of securities via a broker. The TPION authorises the broker to withdraw the shares from the demat account held by the seller. CDSL TPIN is stock-specific and cannot be used to sell or purchase another stock other than the one it was issued for.
CDSL TPIN functionality was rolled out in 2020. This functions alongside the power of attorney rule which authorises a broker to carry out the sale or purchase of shares.
How to sell shares without CDSL TPIN
Zerodha explained that users can activate a demay debit and pledge instruction to avoid CDSL TPIN and OTP for the sale of securities. The DDPI option was authorised by markets regulator SEBI in 2022. It should be noted that this function is limited to share sales by customers, Zerodha said on its website. DDPI can be activated both online and offline, according to the discount brokerage.
Discount brokerage firms Zerodha and Upstoix took to social media to flag a concern regarding glitches in share sale authorisation by CDSL. The issue was later resolved. Here’s what it was all about. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
