Zerodha goes down due to technical glitch, users face Kite login issues

  • Zerodha users face difficulty accessing Kite Web, company suggests ISP-related issue on social media platform X.

Livemint, Written By Dhanya Nagasundaram
First Published3 Jun 2024, 09:39 AM IST
Zerodha traders experience technical problem during record high in Indian markets after exit polls.
Zerodha traders experience technical problem during record high in Indian markets after exit polls.

A technical issue has affected traders on Zerodha, the second-biggest broking platform in India, early on Monday, when the domestic benchmark indices, touched record high levels after the exit polls on Saturday, June 1 indicated a third term for PM Modi's government in the Lok Sabha elections. 

Investors have resorted to well-known trading platforms in the wake of this news, while the CDSL website encountered technical difficulties. The Zerodha users are having trouble accessing onto Kite Web and that its website is offline.

Many users began posting about their issues on the social media platform X, formerly known as Twitter. The company replied to the issue on X by stating that it appeared to be an ISP-related issues. Please check and see if you can use a different internet connection. Another alternative method that they offered is available here: https://support.zerodha.com/category/trading-and-markets/kite-web-and-mobile/others/articles/isp-kite-access

Also Read: Zerodha's Nikhil Kamath moots ‘device-free Sundays’ to tackle short attention span, says ‘let us take some control back’

The huge amount of trades that are occurring today appears to be the cause of the outage on the CDSL website.

The two primary securities depositories in India are National Securities Depository Limited (NSDL) and CDSL, or Central Depository Services Limited.

A user on the social media platform pointed out that all Demat accounts were experiencing CDSL outages. This is a significant problem that needs to be investigated by the relevant authorities. A few minutes of trouble may cause the average person to lose a great deal. Who bears the responsibility? 

Also Read: Zerodha's Nithin Kamath raises concern over ‘ridiculous’ sugar content, adulteration in food: 'Slowly killing us'

Also Read: Zerodha's Nithin Kamath on increasing brokerage firm ads during IPL, ‘Often get asked why we don't advertise…’

According to news reports, in January, Nithin Kamath, the CEO and co-founder of Zerodha, who has been under fire on social media for technological hiccups, stated that software firms such as theirs cannot possibly have zero errors because their company relies heavily on time and serves a big user base.

Zerodha acknowledged at least 8 technological problems in 2023 alone. These problems ranged from those pertaining to order placing, order and position display, and Kite app login. Users think that the stocking brokerage website regularly maintains the expectation that it would fail on significant days.

Recently, Zerodha co-founder Nithin Kamath in a X post said, on May 30, that the brokerage firm has rolled out instant withdrawal feature on its app, which will allow the users to withdraw instant money up to 1,00,000 per day.

Also Read: Zerodha adds instant withdrawal feature for up to 1 lakh per day; here's step-by-step guide, things to keep in mind

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

 

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First Published:3 Jun 2024, 09:39 AM IST
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