Zerodha, Upstox face sell order authorization issues due to CDSL outage

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Brokerage firm Zerodha and Upstox on Wednesday said that customers are facing difficulties in authorizing sell orders due to a temporary issue with Central Depository Services Limited (CDSL), affecting brokers across the industry.

Zerodha informed its customers via X (formerly Twitter), stating, "Due to an issue at CDSL across brokers, you may face an issue with authorising the sale of your stocks. We are in touch with CDSL to have the issue resolved at the earliest. In the meantime, you can sell your holdings without the need for CDSL authorisation."



Upstox issued a similar message, saying, "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."
Normally, when you sell stocks through your broker, you need to authorise the transaction via CDSL's platform (using OTP or other verification methods) to ensure that the depository releases the stocks from your demat account to the buyer.

However, Zerodha later confirmed that the issue had been resolved.
This comes after a similar incident in June when several large brokerages faced difficulties in executing trades due to a system failure at India’s largest depository, CDSL. During that time, the TPIN (Transaction Personal Identification Number) authorization, which allows CDSL to debit securities from demat accounts for sale trades, was not functioning properly.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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